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Question No 10 Chapter No 12 – D.K Goal 11 Class

Question No 10 Chapter No 12
Q-10 - CH-12 - D.K Goal +1 Book 2020 - Solution

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Question No 10 Chapter No 12

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10. From the following transactions of concern, prepare Machinery Account for the year ending 31st March 2013:-

2019  
Apr-01:Purchased second-hand machinery for 40,000.
Apr-01:Spent 10,000 on repairs for making it serviceable
Sept. 30 :Purchased additional new machinery for 20,000.
Dec. 31:Repairs and renewals of machinery 2,000.
2013  
Mar-31:Depreciate the machinery at 10% p.a

The solution of Question No 10 Chapter No 12: –

Dr.Machinery A/cCr.
DateParticulars
J.F.AmountDateParticulars
J.F.Amount
Apr. 01To Bank A/c (M1) (40,000 + 10,000) 50,00031st MarBy Deprecation A/c (5,000 + 1,000) 6,000
Sept.30To Bank A/c (M2) 20,000 By Balance C/d 64,000
   70,000   70,000

Note: Repair charges of Rs 2,000 are categorized under revenue expenditure because these are incurred on December 31, 2012, but machinery has been purchased on September 30, 2012

Depreciation | Meaning | Methods | Examples

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D K Goel – New ISC Accountancy -(Class 11 – ICSE)- Solution

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D K goel accountancy +1 - ISC_Accounts_11_20_Image-min
D K Goel accountancy +1 – ISC_Accounts_11_20_ImageQuestion No 42 Chapter No 11 – D.K Goal 11 Class

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