Question No 14 Chapter No 11 - Unimax 11 Class

Question No 14 Chapter No 11 – Unimax Class 11

Table of Contents

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.

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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.

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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

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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

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

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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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