Problem No 4 Chapter No 11 – Unimax 11 Class

Posted by By Rajan Suman 8 Min Read June 12, 2022
Problem-No-4-Chapter-No-11-UNIMAX-Class-11
Problem-No-4-Chapter-No-11-UNIMAX-Class-11

Problem No 4 Chapter No 11 – Unimax Class 11

X Ltd. Purchases a machinery for ₹ 8,00,000 on 1st January 2016. On 1st July,2017 it purchased a new machinery for ₹ 2,85,000 and spent ₹ 15,000 towards its carriage and installation. On 1st qctober,2018 it purchased another machinery for ₹ 2,00,000. The machinery purchases on 1st July, 2017 was sold off on 31st march,2020 for ₹ 1,55,000. Depreciation is charges @ 15% p.a. on straight line method. Prepare machinery account and depreciation account for 5 years assuming that the books are closed on 31st march every year.

The solution of Problem No 4 Chapter No 11 –

Dr. Machine A/c Cr.
Date Particulars J.F. Amount Date Particulars J.F. Amount
1/1/2016 To Bank A/c   8,00,000 31/03/16 By Deprecation A/c   30,000
        31/03/14 By Balance C/d   7,70,000
      8,00,000       8,00,000
1/4/2016 To Balance b/d   7,70,000 31/03/17 By Deprecation A/c   1,20,000
        31/03/17 By Balance C/d   6,50,000
      7,70,000       7,70,000
1/4/2017 To Balance b/d   6,50,000 31/03/18 By Deprecation A/c   1,53,750
1/7/2017 To Bank A/c   2,85,000 31/03/16 By Balance C/d   7,96,250
1/7/2017  To Bank A/c   15,000        
      9,50,000       9,50,000
1/4/2018 To Balance b/d   7,69,250 31/03/19 By Deprecation A/c   1,80,000
 01/10/18 To Bank A/c   2,00,000 31/03/19 By Balance C/d   8,16,250
      9,96,250       9,96,250
1/4/2019 To Balance b/d   8,16,250 31/03/20 By Bank A/c   1,55,000
        31/03/20 By Profit & Loss A/c   21,250
        31/03/20 By Deprecation A/c   1,95,000
        31/03/18 By Balance C/d   4,45,000
      8,16,250       8,16,250
Dr. DepreciationA/c Cr.
Date Particulars   J.F. Amount Date Particulars   J.F. Amount
31/03/16 To Machinery A/c   30,000 31/03/16 By profit & Loss A/c   30,000
                 
        30,000         30,000
31/03/17 To Machinery A/c   8,000 31/03/17 By profit & Loss A/c   8,000
                 
        30,000         30,000
31/03/18 To Machinery A/c   30,000 31/03/18 By profit & Loss A/c   30,000
                 
        30,000         30,000
31/03/19 To Machinery A/c   30,000 31/03/19 By profit & Loss A/c   30,000
                 
        30,000         30,000
31/03/20 To Machinery A/c   30,000 31/03/20 By profit & Loss A/c   30,000
                 
        30,000         30,000

Working Note:
(1) Annul depreciation on machinery purchases on Jan, 2016 = ₹ 1,20,000
(2) Annual depreciation on machinery purchases on July 1, 2017 = ₹ 45,000
(3) Annual depreciation on machinery purchases on oct. 1, 2018 = ₹ 30,000
(4) Book value of machinery purchases on July 1,2017 on 31st march,2020 =₹ 1,46,250
(5) Loss on sales of machinery = ₹ (1,76,250-1,55,000)= ₹ 21,250
It is all about Problem No 4 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

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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

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