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

Question No 10 Chapter No 12

Question No 10 Chapter No 12

Free Accounting book Solution - Class 11 and Class 12

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/c Cr.
Date Particulars
J.F. Amount Date Particulars
J.F. Amount
Apr. 01 To Bank A/c (M1) (40,000 + 10,000)   50,000 31st Mar By Deprecation A/c (5,000 + 1,000)   6,000
Sept.30 To 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_ImageQuestion No 42 Chapter No 11 – D.K Goal 11 Class

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