KSEAB II PUC Accountancy case studies
KSEAB II PUC Accountancy · Put your knowledge to work in context.
The KSEAB II PUC Accountancy examination is the Karnataka School Examination and Assessment Board's Class 12 paper in Accountancy, taken by pre-university students at the end of their second year. It is a board-conducted written examination, and its result is used for progression to commerce and management degrees and as a record of senior-secondary achievement. The KSEAB II PUC Accountancy case studies are 5 cases and about 2,941 words.
1The Deed Says Nothing: Salary, Loan Interest and the Interest-on-Capital Claim
Ananya and Bhavna formed a partnership on 1 April 2023 with capitals of ₹4,00,000 and ₹2,50,000, sharing profits 3:2. The written deed provides a monthly salary of ₹5,000 to Bhavna and interest on drawings at 6% per annum, but it says nothing about interest on capital or interest on a partner's loan.
514 words, about 3 min2Admission of Mira: Whose Goodwill, and Who Actually Brings Capital?
Kabir and Leena share profits 3:2. Their balance sheet on 31 March 2024 shows capitals of ₹6,00,000 and ₹4,00,000 and carries no goodwill account.
552 words, about 3 min3Dissolution of P, Q and R: Realisation Loss and a Partner Who Cannot Pay
P, Q and R shared profits 2:2:1. Their balance sheet on 31 March 2024 showed creditors ₹1,10,000, Q's loan ₹60,000, capitals of P ₹2,00,000, Q ₹1,20,000 and R ₹10,000, against machinery ₹1,80,000, stock ₹90,000, debtors ₹1,20,000 less provision for doubtful debts ₹10,000, land ₹75,000, goodwill ₹30,000 and cash ₹15,000.
537 words, about 3 min4Sunrise Traders: Is the Current Ratio Telling the Truth?
Sunrise Traders' position on 31 March 2024: inventory ₹3,00,000; trade receivables ₹2,00,000; bills receivable ₹50,000; prepaid insurance ₹20,000; cash and cash equivalents ₹30,000; trade payables ₹2,20,000; outstanding salary ₹30,000; bank overdraft ₹50,000. Revenue from operations for the year was ₹24,00,000, of which ₹20,00,000 was on credit; gross profit ratio 25%.
658 words, about 3 min5Himagiri Ltd: Three Errors in the Draft Cash Flow Statement
Himagiri Ltd reported profit after tax of ₹4,80,000 for the year ended 31 March 2024; provision for tax for the year was ₹1,20,000, of which ₹1,05,000 was paid. From the books: depreciation ₹90,000; loss on sale of a machine ₹15,000 (book value ₹60,000, sold for ₹45,000); interest of ₹40,000 on 9% borrowings, paid during the year; trade receivables rose ₹60,000; inventory fell ₹30,000; trade payables fell ₹25,000; a machine costing ₹1,50,000 was acquired by issuing equity shares of the same amount; the bank overdraft rose from ₹60,000 to ₹1,00,000; dividend of ₹50,000 was paid; investments were purchased for ₹80,000.
680 words, about 3 min