# Question 33 Chapter 1 of Class 12 Part – 1 VK Publication

Question 33 Chapter 1 of Class 12 Part - 1 VK Publication

Question 33 Chapter 1 of Class 12 Part – 1

1. A charitable organisation provides vocational training to youngsters in Dress Designing to make a career in the competitive world. The organisation uses some advanced machines to train them. From the following information, prepare Machines Account. You are also required to show the item Machines’ in the books of a not-for-profit organisation as at 31st March, 2018: Machines as on 1st April, 2017 Rs. 4,50,000, 2 Machines (having a book value as on 1st April, 2017-Rs. 1,80,000) were sold for Rs. 1,95,000 on 1st July, 2017. Three more machines were Purchased on 1st January, 2018 for Rs. 2,55,000. Depreciation is to be charged @20% p.a.

## The solution of Question 33 Chapter 1 of Class 12 Part – 1: –

District Club

Income and Expenditure Account

For the year ended on 31st March, 2018

 Date Particulars Amount Date Particulars Amount 2017 2017 Apr. 1 To Balance b/d 4,50,000 July 1 By Depreciation A/c 9,000 9,000 July 1 To Income and Expenditure A/c (Profit on sale) 24,000 By Bank A/c (Sale) 1,95,000 2018 2018 Jan. 1 To Bank A/c (Purchase) 2,55,000 March 31 By Depreciation A/c [(4,50,000-1,80,000) x 20/100 ] 54,000 By Depreciation A/c (2,55,000 x 20/100x 3/12) 12,750 By Balance c/d 4,58,250 7,29,000 7,29,000

Income and Expenditure Account

For the year ended 31st March,2018

 Expenditure Amount Income Amount To Depreciation on Machines (54,000+ 12,750+9,000) 75,750 By Profit on Sale of Machines 24,000

Balance Sheet

(as at 31st March,2018)

 Liabilities Amount Assets Amount Machines 4,58,250

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## Usha Publication – Accountancy PSEB (Class 12) – Volume I – Solution

Chapter No. 1 – Accounting Not for Profit Organisations

Chapter No. 2 – Partnership Accounts – I (Introduction)

Chapter No. 3 – Partnership Accounts – II (Goodwill: Nature and Valuation)

Chapter No. 4 – Partnership Accounts – III (Reconstitution of Partnership)

Chapter No. 5 – Partnership Accounts – IV (Admission of A Partner)

Chapter No. 6 – Partnership Accounts – V (Retirement and Death of A Partner)

Chapter No. 7 – Partnership Accounts – VI (Dissolution of Partnership Firm)

Chapter No. 8 – Company Accounts (Share Capital)

Chapter No. 9 – Company Accounts (Issue of Debentures)

Chapter No. 10 – Company Accounts (Redemption of Debentures)

## Usha Publication – Accountancy PSEB (Class 12) – Volume II – Solution

Chapter No. 1 – Financial Statements of a Company

Chapter No. 2 – Financial Statement Analysis

Chapter No. 3 –  Tools of Financial Statement Analysis- Comparative and Common Size

Chapter No. 4 – Ratio Analysis

Chapter No. 5 – Cash Flow Statement