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Problem No 9 Chapter No 11 - Unimax Class 11
The following balance appear in the books of M/s Kusha waha sons:
| Jan.1,2020 | Machinery account | ₹ 40,000 |
| Jan.1.2020 | Provision for deprecation | ₹ 18,000 |
On 1st Jan. 2020 they decided to sell a machinery for ₹ 4,350. This machinery was purchased in January 2018 for ₹ 8,000.
You are required to prepare machinery A/c and the “provision for depreciation A/c” on 31st Dec.2020. assuming the firm has been charging depreciation at 10% p.a. on straight line method.
| Dr. | Depreciation A/c | Cr. | |||||
| Date | Particulars | J.F. | Amount | Date | Particulars | J.F. | Amount |
|---|---|---|---|---|---|---|---|
| 01/01/20 | By Machinery A/c | 1,600 | 01/01/20 | By Balance b/d | 18,000 | ||
| 31/12/20 | By Balance C/d | 19,600 | 31/12/20 | By Depreciation A/c | 3,200 | ||
| 21,200 | 21,200 | ||||||
Working Note :
(1) Book value of machinery purchases on Jan. 1, 2018 on date Jan. 1, 2018 on date 1, 2020 = ₹ 6,400.
(2) Loss on sale of machinery = ₹ (6,400-4,350) = ₹ 2,050.
It is all about Problem No 9 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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