Problem No 3 Chapter No 11 – Unimax Class 11
X Ltd. Purchases an asset on 1st July,2016 at a cost of ₹ 1,10,000 and ₹ 10,000 on its installation. The firm writes off depreciation at 10% of the original cast every year. The books are closed on December 31 every year. Prepare the machinery account and depreciation account for four years.
The solution of Problem No 3 Chapter No 11 –
| Dr. | Machine A/c | Cr. | |||||
| Date | Particulars | J.F. | Amount | Date | Particulars | J.F. | Amount |
| 1/7/2016 | To Bank A/c | 1,10,000 | 31/12/16 | By Deprecation A/c | 6,000 | ||
| 1/7/2016 | To Bank A/c (erection cost) | 10,000 | 31/03/14 | By Balance C/d | 1,14,000 | ||
| 1,20,000 | 1,20,000 | ||||||
| 1/1/2017 | To Balance b/d | 1,14,000 | 31/12/17 | By Deprecation A/c | 12,000 | ||
| 31/12/17 | By Balance C/d | 1,02,000 | |||||
| 1,14,000 | 1,14,000 | ||||||
| 1/1/2018 | To Balance b/d | 1,02,000 | 31/12/18 | By Deprecation A/c | 12,000 | ||
| 31/12/18 | By Balance C/d | 90,000 | |||||
| 1,02,000 | 1,02,000 | ||||||
| 1/1/2019 | To Balance b/d | 90,000 | 31/12/19 | By Deprecation A/c | 12,000 | ||
| 31/12/19 | By Balance C/d | 78,000 | |||||
| 90,000 | 90,000 | ||||||
| 1/1/2020 | To Balance b/d | 78,000 | |||||
| Dr. | DepreciationA/c | Cr. | |||||
| Date | Particulars | J.F. | Amount | Date | Particulars | J.F. | Amount |
| 31/12/16 | To Machinery A/c | 12,000 | 31/12/16 | By Profit & Loss A/c | 12,000 | ||
| 12,000 | 12,000 | ||||||
| 31/12/17 | To Machinery A/c | 12,000 | 31/12/17 | By Profit & Loss A/c | 12,000 | ||
| 12,000 | 12,000 | ||||||
| 31/12/18 | To Machinery A/c | 12,000 | 31/12/18 | By Profit & Loss A/c | 12,000 | ||
| 12,000 | 12,000 | ||||||
| 31/12/19 | To Machinery A/c | 12,000 | 31/12/19 | By Profit & Loss A/c | 12,000 | ||
| 12,000 | 12,000 | ||||||
It is all about Problem No 3 Chapter 10 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
Depreciation | Meaning | Methods | Examples
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: –
Advanced Accountancy – Unimax Class 11 – 2021 – Solution.
Part-I
- Chapter No. 1 – Introduction of Accounting
- Chapter No. 2 – Theory Base of Accounting
- Chapter No. 3 – Vouchers and Transactions
- Chapter No. 4 – Journal
- Chapter No. 5 – Goods and Services Tax (GST): An Introduction
- Chapter No. 6 – Ledger
- Chapter No. 7 – Special Purpose Book – Cash Book
- Chapter No. 8 – Other Subsidiary Books
- Chapter No. 9 – Trial Balance
- Chapter No. 10 – Rectification of Errors
- Chapter No. 11 – Depreciation
- Chapter No. 12 – Provision and Reserves
- Chapter No. 13 – Bank Reconciliation Statement
- Chapter No. 14 – Bills of Exchange
Students may choose only one part from the Part II and Part III
Part-II
- Chapter No. 15 – Financial Statements (Without Adjustments)
- Chapter No. 16 – Financial Statements (With Adjustments)
- Chapter No. 17 – Accounts from Incomplete Records – Single Entry System
Part-III
- Chapter No. 18 – Introduction to Computers and Accounting information System
- Chapter No. 19 – Computerised Accounting
- Chapter No. 20 – Accounting Software: Tally
- Chapter No. 21 – Data Base System
- Chapter No. 22 – Concept of Entity and Relationship