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Question No 10 Chapter No 11 - Unimax Class 11
Diminishing Balance Method
Question.11 A company purchased a plant for ₹ 60,000 on 1st Jan.,2016. It is estimated that scrap value of this plant at the end of its working life of 12 years will be ₹ 12,420. Depreciation is to be provided @ 10% p.a. by ‘Diminishing balance method’.
Prepare plant account for 4 years assuming that books are closed on 31st Dec., each year.
| Dr. | Machine A/c | Cr. | |||||
| Date | Particulars | J.F. | Amount | Date | Particulars | J.F. | Amount |
|---|---|---|---|---|---|---|---|
| 01/01/16 | To Bank A/c | 60,000 | 31/12/16 | By Deprecation A/c | 6,000 | ||
| 31/12/16 | By Balance C/d | 54,000 | |||||
| 60,000 | 60000 | ||||||
| 01/01/17 | To Balance b/d | 54,000 | 31/12/17 | By Deprecation A/c | 5,400 | ||
| 31/12/17 | By Balance C/d | 48,600 | |||||
| 54,000 | 54,000 | ||||||
| 01/01/18 | To Balance b/d | 48,600 | 31/12/18 | By Deprecation A/c | 4,860 | ||
| 31/12/18 | By Balance C/d | 43,740 | |||||
| 48,600 | 48,600 | ||||||
| 01/01/19 | To Balance b/d | 43,740 | 31/12/19 | By Deprecation A/c | 4,374 | ||
| 31/12/19 | By Balance C/d | 39,366 | |||||
| 43,740 | 43,740 | ||||||
It is all about Question No 10 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
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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