Question No 10 Chapter No 11 – Unimax Class 11
Diminishing Balance Method
Question.11 A company purchased a plant for ₹ 60,000 on 1st Jan.,2016. It is estimated that scrap value of this plant at the end of its working life of 12 years will be ₹ 12,420. Depreciation is to be provided @ 10% p.a. by ‘Diminishing balance method’.
Prepare plant account for 4 years assuming that books are closed on 31st Dec., each year.
The solution of Question No 10 Chapter No 11 –
| Dr. | Machine A/c | Cr. | |||||
| Date | Particulars | J.F. | Amount | Date | Particulars | J.F. | Amount |
| 01/01/16 | To Bank A/c | 60,000 | 31/12/16 | By Deprecation A/c | 6,000 | ||
| 31/12/16 | By Balance C/d | 54,000 | |||||
| 60,000 | 60000 | ||||||
| 01/01/17 | To Balance b/d | 54,000 | 31/12/17 | By Deprecation A/c | 5,400 | ||
| 31/12/17 | By Balance C/d | 48,600 | |||||
| 54,000 | 54,000 | ||||||
| 01/01/18 | To Balance b/d | 48,600 | 31/12/18 | By Deprecation A/c | 4,860 | ||
| 31/12/18 | By Balance C/d | 43,740 | |||||
| 48,600 | 48,600 | ||||||
| 01/01/19 | To Balance b/d | 43,740 | 31/12/19 | By Deprecation A/c | 4,374 | ||
| 31/12/19 | By Balance C/d | 39,366 | |||||
| 43,740 | 43,740 | ||||||
It is all about Question No 10 Chapter 11 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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- 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