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✦ FREE LEARNING — CLASS 11 & 12 — CBSE · PSEB — ACCOUNTS · ECONOMICS · BST ✦
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Open a ‘T’ shape account for machinery and put the following transactions on the proper side:
| (i) Machinery purchased | ₹40,000 |
| (ii) Machinery sold | ₹10,000 |
| (iii) Machinery purchased | ₹8,000 |
| (iv) Machinery discarded | ₹14,000 |
| (v) Depreciation on machinery | ₹1,000 |
Answer:
Machinery (Asset) Account
| Dr. | Cr. | ||||||
|---|---|---|---|---|---|---|---|
| Date | Particulars | J.F. | ₹ | Date | Particulars | J.F. | ₹ |
| Bank (Purchased) | 40,000 | Bank (Sale) | 10,000 | ||||
| Bank (Purchased) | 8,000 | Bank (Discarded) | 14,000 | ||||
| Depreciation | 1,000 | ||||||
| Balance c/d | 23,000 | ||||||
| 48,000 | 48,000 | ||||||
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 "T.S. Grewal Class 11 Chapter 6 Q.8 - T-Shape Machinery Account", focusing on key definitions, step-by-step concepts, applications, and revision guidelines relevant to Chapter 6 - Accounting Procedures - Rules of Debit and Credit.
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.
You can take our custom-built interactive practice quiz directly on this page to test your understanding of "T.S. Grewal Class 11 Chapter 6 Q.8 - T-Shape Machinery Account" instantly.