Question No 14 Chapter No 11 - Unimax 11 Class

Question No 14 Chapter No 11 – Unimax Class 11

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The solution of Question No 14 Chapter No 11 –

Advanced Accountancy – Unimax Class 11 – 2021 – Solution.

M/s Krishana publication purchased machinery for ₹ 40,000 on 1.7.2017. Depreciation is provided @ 10% p.a. on Diminishing balance. On 31.10.2019 one -fourth of the machinery was found unsuitable and disposed off at ₹ 5,600. On the same date new machinery at a cost of ₹ 15,000 was purchased. Write up the machinery account from 2017 to 2019. The account are closed on 31 December every year

The solution of Question No 14 Chapter No 11 –

Dr.	Machine A/c						Cr.
Date	Particulars	J.F.	Amount	Date	Particulars	J.F.	Amount
01/07/17	To Balance b/d		40,000	31/12/17	By Deprecation A/c		2,000
				31/12/17	By Balance C/d		38,000
			40,000				40,000
01/01/18	To Balance b/d		38,000	31/12/18	By Deprecation A/c		3,800
				31/12/18	By Balance C/d		34,200
			38,000				38,000
01/01/19	To Balance b/d		38,000	31/10/19	By Bank A/c		5,600
01/01/19	To Bank A/c		15,000	31/10/19	By Profit & Loss A/c		2,237.5
				31/12/19	By Deprecation A/c		3,527.5
				31/12/19	By Balance C/d		37,835
			49,200				49,200

Working Note:
(1) Annual depreciation on machinery purchased on July 1,2017
Dep. on Dec. 31,2017 = ₹ 2,000
Dep. On Dec. 31,2018 = ₹ 3,800
Dep. On Dec. 31,2019 = ₹ 3,277.5
(2) Book value of one forth machinery sold, at the time of sale = ₹ 7,837.5
(3) Loss of on sale of machinery = ₹ (7,837.5-5,600) = ₹ 2,237.5
(4) Dep. On new machinery purchased on Oct.31,2019 at date 31.1.2019 = ₹ 250.
It is all about Question No 14 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: –

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Advanced Accountancy – Unimax Class 11 – 2021 – Solution.

Part-I

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

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

Read out the full article to know the meaning of Rectification of Errors

Error Rectification in accounting – Explanation with examples

Also, Check out the same article in Hindi from the following link

Error Rectification in accounting – Explanation with 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

Question No 14 Chapter No 11 – Unimax 11 Class

The solution of Question No 14 Chapter No 11 –

Advanced Accountancy – Unimax Class 11 – 2021 – Solution.

Advanced Accountancy – Unimax Class 11 – 2021 – Solution.

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