GOVERNMENT PU COLLEGE, GORUR – LL0034

I PUC ANNUAL EXAMINATION FEBRUARY – 2025

ACCOUNTANCY (30)
Time: 3Hours (Total No. of Questions:32) Max. Marks:80
Instructions to candidates:
1. The questions papers contains 4 parts A,B,C, and D.
2. Part- A consists of 4 sections. (I, II, III, and IV)
3. Write the serial number of questions properly given in the question paper while answering.
4. Write the correct and complete answer.
5. For part- A questions only the first written answer will be considered for evaluation.
PART - A
I. Choose the correct answer from the choise given. 5x1=5
1. ________ is the language of business.
a) Accounting b) Financial statement c) Accounting assumption d) Book keeping.

2. Accounting equation is based on.

a) Cost concept b) Separate entity concept c) Dual aspect concept d) Accrual concept

3. Passbook is a copy of
a) Copy of customer account b) Bank column of cash book c) Cash column of cash book
d) Copy of receipts and payments

4. If wages paid for installation of new machinery is debited to wages account, it is

a) An Errors of commission b) An Error of principle
c) Compensating error. d )An error of omission

5. If the insurance premium paid rs 1000 and prepaid insurance is rs 300, the total amount of
insurance shown in the profit and loss account is.
a) Rs 1300 b) Rs 1000 c) Rs 300 d) Rs 700

II. Fill in the blanks by choosing appropriate answer from those give in the brackets. 5x1=5
( Balance sheet, Debit, Credit, Capital, Petty cash, Two column cash book)
6. Asset = Liabilities +______
7. Cash book is maintain to record small expenses is called_________
8. Normally, the cash book shows a debit balance, passbook shows___________ balance
9. Asset account balances are_________balance.
10.____________ is a list of assets, liabilities and capital.

III. Match the following 5x1=5

11. A B
a) Basis of Accounting i) Capital expenditure
b) Goods and service tax ii) Two column cash book
c) Contra entries iii) Wear and tear
d) Causes of depreciation vi) Revenue expenditure
e) Purchase of fixed assets v) GST
vi) Cash basis

VI. Answer the following question in one word / one sentence each 5x1=5
12. Expand ICAI.
13. State any one type of cash book.
14. What is bank over draft?
15. What is reserve?
16. Balance sheet is a statement (True/False)
 PART B
V. Answer any three question. Each question carry 2 marks 3x2=6
17. Define Accounting?
18. Mention any two accounting concepts?
19. What is bank reconciliation statement?
20. Give two examples for current assets?
21. Give the journal entry for the following adjustment
a) Prepaid commission rupees 4500

PART – C
VI. Answer any three questions. Each question carry 6 marks: 3x6=18
22. Classify the following Accounts into Assets, Liabilities, Capital, Expenses/Losses and revenue/gains:
a] Cash A/c b] Purchases A/c c] Drawings A/c d] Computer A/c
e] Building A/c f] Salary A/c g] Interest on Investment A/c h] Sales A/c
i] O/S salary A/c j] Creditors A/c k] Purchases Returns A/c l] Bills Receivable A/c

23. Prepare purchases book for the month of January 2024.

2024
Jan 01 Purchased goods from Rajesh Rs. 8,000.
Jan 08 Bought goods from Ramesh Rs. 20,000/- less 5% trade discount.
Jan 10 Bought Vehicle from Maruti co. on credit
Jan 19 Purchased from Lakshmi traders for `5,000 on credit.
Jan 24 Purchased goods from Mr. A for `4,000 less 10% trade discount.

24. Prepare petty cash book from the following particulars under Imprest system.
Date Particulars Rs
2023
Feb 01 Received a cheque towards petty cash 500
06 Paid taxi fare 70
12 Stationery purchased 65
15 Wages paid 50
26 Bus fare 10
28 Coffee expenses 30

25. Prepare a trial balance from the following balances as on 31-03-2024:

Capital 25,000
Bills Payable 1,850
Bills Receivable 4,400
Stock on1.4.2023 8,500
Furniture 2,600
Purchases 8,950
Sales 22,500
Discount earned 970
Carriage 300
Cash at Bank 25,570

26. Compute cost of goods sold for the year 2023-24 with the help of the following information.
Stock on 1st April, 2023 3,00,000
Stock on 31st March, 2024 4,00,000
Purchases during the year 15,00,000
Sales during the year 20,00,000
Wages 1,20,000
 PART - D
VI. Answer any three questions. Each question carry 12 marks: 3x12=36
27. Journalise the following transactions of Swaroop Traders:
2023 Jan 1) Business started with cash Rs 1,00,000 and Furniture Rs 50,000
Jan 2) Opened bank Account with SBI Rs 5000
Jan 5) Purchased goods for cash Rs 10,000
Jan 8) Sold goods to Suma Rs 20,000
Jan 10) Goods returned from Suma Rs 2, 000
Jan 15) Cash received from Suma Rs 17,500 in full settlement of her Account.
Jan 20) Paid for stationary Rs 1,000
Jan 23) Paid rent by chequeRs 4,000
Jan 25) Drew for personal use Rs 3,000
Jan 28) Purchased furniture on credit from Siddeshwar Steels, HubliRs 10, 000
Jan 30) Salary outstanding Rs 60,000

28. Record the following transactions of M/s tools India ltd. In Two column cash book:

Date Particulars Rs
2024
Jan.01 Bank balance 48,000
Cash balance 12,000
Jan.04 Purchased goods for cash 6,000
Jan.08 Bought goods by cheque 15,000
Jan.12 Sold goods for cash 11,000
Jan.15 Purchased machinery by cheque 7,500
Jan.16 Sold goods and received cheque and deposited in to the bank 8,500
Jan.18 Bought stationery by cheque 2,000
Jan.20 Cheque given to Rohith 3,500
Jan.21 Withdraw cash from bank for office purpose 10,000
Jan.27 Rent paid by cheque 3,000
Jan.31 Paid salary 4,000

29. Enter the following transactions in the Purchases book, Purchases return book, Sales book, Sales return
book:
2024
Jan 01 Goods sold to SachinRs 5,000
Jan 04 Purchased from Kushaltraders Rs 2,480.
Jan 06 Sold goods to manishtraders Rs 2,100
Jan 07 Sachin returned goods Rs 600
Jan 08 Rerurned to Kushal traders `280.
Jan 12 Purchased goods from Kunaltraders Rs 5,700 less 10% trade discount.
Jan 15 Sold to Sri chand brothers Rs 6,600 less 5% trade discount.
Jan 20 Return outwards to Kunal traders Rs 1,000 less 10% trade discount.
Jan 24 Bought of NareshRs 4,060.
Jan 26 Furniture purchased from TharunRs 3,200.
Jan 29 Chand brothers returned goods Rs 500.
Jan 30 Sold to MukeshRs 3,300.
Jan 31 Mukesh returned goods Rs 300.

30. From the following particulars of Mr. Shourya, prepare Bank Reconciliation Statement as on March 31,
2024.
a] Bank balance as per cash book Rs 50,000.
b] Cheques issued, but not presented for payment Rs 6,000.
c] Dividend on shares collected by the bank and credited in the pass book Rs 8,000.
d] Bank charges debited in the pass book only Rs 400.
e] A cheque deposited into bank, but not collected by the bank Rs 5,000.
f] Interest credited in the pass book only Rs 500.
g] Insurance premium paid directly by the bank understanding advice Rs 1,000.
31. From the following particulars, prepare Machinery A/c and Depreciation A/c for first three years ending on
31-03-2024 assuming that depreciation is charged at 10% p.a. under Diminishing Cost Method.
a) Machine ‘X’ bought on 01-10-2021 for Rs 45,000.
b) Machine ‘Y’ bought on 01-07-2022 for Rs 30,000.
c) Machine ‘X’ was sold on 30-11-2023 for Rs 36,500.

32. From the following Trail Balance, prepare Trading and Profit and Loss Account for the year ending 31-3-
2024 and the Balance Sheet as on that date.

Name of the Account Debit (Rs) Credit (Rs)

Capital 30,000
Drawings 1,760
Purchases and Sales 8,900 15,000
Stock (on 1-4-2023) 1,200
Returns 280 450
Wages 800
Buildings 22,000
Freight charges 2,000
Trade expenses 200
Advertisement 240
Interest 650
Taxes and Insurance 430
Debtors and Creditors 6,500 1,200
Bills receivable and bills payable 1,500 700
Cash at bank 1,200
Cash in hand 190
Salaries 800
Total 48,000 48,000

Adjustments:
1] Stock on 31-3-2024 was valued at Rs 10,000.
2] Insurance prepaid to the extent of Rs 100.
3] Outstanding salaries Rs 200.
4] Depreciate buildings by 5%.
5] Provide PDD at 5% on debtors.

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