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✦ FREE LEARNING — CLASS 11 & 12 — CBSE · PSEB — ACCOUNTS · ECONOMICS · BST ✦
Question No 8 Chapter No 12 - Unimax Class 11
A company decided to transfer ₹ 400 every year to repair and renewals reserve account maintained for a machine recently purchased. In the 1st 4 years, annual repairs were ₹ 50, ₹ 90, ₹ 150 and ₹ 170 respectively. Prepare repairs and renewals reserve account for these 4 years.
| Dr. | Book of company repairs and renewal reserve A/c | Cr. | |||||
| Date | Particulars | J.F. | Amount | Date | Particulars | J.F. | Amount |
|---|---|---|---|---|---|---|---|
| 1st year | 1st year | ||||||
| Dec.31 | To Cash A/c | 50 | Dec.31 | By p & L A/c | 400 | ||
| Dec.31 | To Balance c/d | 350 | |||||
| 400 | 400 | ||||||
| 2nd year | 2nd year | ||||||
| Dec.31 | To Cash A/c | 90 | Jan.1 | By Balance b/d | 350 | ||
| Dec.31 | To Balance c/d | 660 | Dec.31 | By P & L A/c | 400 | ||
| 750 | 750 | ||||||
| 3rd year | 3rd year | ||||||
| Dec.31 | To Cash A/c | 150 | Jan.1 | By Balance b/d | 660 | ||
| Dec.31 | To Balance c/d | 910 | Dec.31 | By P & L A/c | 400 | ||
| 1,060 | 1,060 | ||||||
| 4th year | 4th year | ||||||
| Dec.31 | To cash A/c | 170 | Jan.1 | By Balance b/d | 910 | ||
| Dec.31 | To Balance c/d | 1,140 | Dec.31 | By P & L A/c | 400 | ||
| 1,310 | 1,310 | ||||||
| 5th year | |||||||
| Jan.1 | By balance b/d | 1,140 | |||||
It is all about Question No 8 Chapter 12 of Class 11 unimax, If you have any problem please comment below.
Read out the full article to know the meaning of Depreciation
Provisions and Reserves | Meaning | Methods | Examples
https://tutorstips.com/provision-and-reserve/
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 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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