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Problem No 8 Chapter No 11 - Unimax Class 11
On 1st January 2018 M/s Atul and Bros. purchased 5 washing machines for ₹ 15,000 each. They sold on January 1,2019 one machinery for ₹ 12,500. They have decided to write off depreciation @ 10% on straight line method. Prepare washing machinery A/c, washing machinery disposal A/c and provision for depreciation a/c for two years. Accounts are closed on 31st December every year.
| Dr. | Washing Machine A/c | Cr. | |||||
| Date | Particulars | J.F. | Amount | Date | Particulars | J.F. | Amount |
|---|---|---|---|---|---|---|---|
| 01/01/18 | To Bank A/c | 75,000 | 31/12/18 | By Balance C/d | 75,000 | ||
| 75,000 | 75,000 | ||||||
| 01/01/19 | To Balance b/d | 75,000 | 01/01/19 | By Machinery disposal A/c | 15,000 | ||
| 31/12/19 | By Balance C/d | 50,000 | |||||
| 75,000 | 75,000 | ||||||
| Dr. | Provision for Depreciation A/c | Cr. | |||||
| Date | Particulars | J.F. | Amount | Date | Particulars | J.F. | Amount |
|---|---|---|---|---|---|---|---|
| 31/12/18 | By Balance C/d | 75,000 | 31/12/18 | By Deprecation A/c | 75,000 | ||
| 75,000 | 75,000 | ||||||
| 01/01/19 | By Machinery disposal A/c | 1,500 | By Balance c/d | 7,500 | |||
| 31/12/19 | By Balance C/d | 12,000 | 31/12/19 | By Depreciation A/c | 6,000 | ||
| 13500 | 13500 | ||||||
| Dr. | Depreciation A/c | Cr. | |||||
| Date | Particulars | J.F. | Amount | Date | Particulars | J.F. | Amount |
|---|---|---|---|---|---|---|---|
| 01/01/19 | To Machinery A/c | 15,000 | 01/01/19 | By Provision for depreciation a/c | 1,500 | ||
| 01/01/19 | By Bank A/c | 12,500 | |||||
| 01/01/19 | By Profit & Loss A/c | 1,000 | |||||
| 15,000 | 15,000 | ||||||
It is all about Problem No 8 Chapter 11 of Class 11 unimax, If you have any problem please comment below.
Read out the full article to know the meaning of Depreciation
Depreciation | Meaning | Methods | Examples
https://tutorstips.com/depreciation/
Also, Check out the same article in Hindi from the following link
Depreciation | Meaning | Methods | Examples-in Hindi
Also, Check out the solved question of all Chapters: –
Part-I
Students may choose only one part from the Part II and Part III
Part-II
Part-III
Read out the full article to know the meaning of Rectification of Errors
Error Rectification in accounting – Explanation with examples
Also, Check out the same article in Hindi from the following link
Error Rectification in accounting – Explanation with examples-in Hindi
Also, Check out the solved question of all Chapters: –
Part-I
Students may choose only one part from the Part II and Part III
Part-II
Part-III
Accounting & Commerce Educator
Sarbjit Singh holds a B.Com and M.Com degree and has over 12 years of teaching experience in double entry bookkeeping, financial accounting, and business studies.
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