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✦ FREE LEARNING — CLASS 11 & 12 — CBSE · PSEB — ACCOUNTS · ECONOMICS · BST ✦
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Question 10 Chapter No 16 – Class 11 Unimax
Machinery of ₹ 60,000 appears in the Trial Balance as on 31.3.2020 and a depreciation of 6% is charged p.a. pass necessary adjustment entry and show how it will appear in final accounts.
Journal
| Date | Particulars |
L.F. | Debit | Credit | ||
|---|---|---|---|---|---|---|
| 31.3.2020 | 31.3.2020 Depreciation A/c | Dr. | 3,600 | |||
| To Machinery A/c | 3,600 | |||||
| (Being depreciation charged on machinery 6% p.a.) | ||||||
Profit & Loss A/c for the year ended 31st March,2020
| Particulars |
Amount | Particulars | Amount | ||
|---|---|---|---|---|---|
| Depreciation on machinery | 3,600 | ||||
Balance Sheet As at 31st March, 2020
| Liabilities | Amount | Assets |
Amount | ||
|---|---|---|---|---|---|
| Machinery | 60,000 | ||||
| Less: depreciation | 3,600 | 56,400 | |||
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.
This guide covers "Question 10 Chapter No 16 – Class 11 Unimax", focusing on key definitions, step-by-step concepts, applications, and revision guidelines relevant to Chapter 16 - Financial Statements (With Adjustments) - Unimax.
It is primarily curated for Class 11 and Class 12 high school commerce, accounting, and economics students, as well as aspirants preparing for board exams or CA Foundation.
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