Question No 15 Chapter No 11 - Unimax 11 Class

Question No 15 Chapter No 11 – Unimax Class 11

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The solution of Question No 15 Chapter No 11 –

Advanced Accountancy – Unimax Class 11 – 2021 – Solution.

15. A company purchased a machinery for ₹ 50,000 on 1st July,2017. Another machinery costing ₹ 10,000 was purchased on 1st sept. 2018. On 31st dec.,2019, the machinery purchased in 2017 was sold at a loss of ₹ 5,000. The company charges depreciation at the rate of 15% on diminishing balance method. Accounts are closed on 31st dec. every year. Prepare machinery account for 3 years.

The solution of Question No 15 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		50,000	31/12/17	By Deprecation A/c		3,750
				31/12/17	By Balance C/d		46,250
			50,000				50,000
01/01/18	To Balance b/d		46,250	31/12/18	By Deprecation A/c		7,438
01/08/18	To Bank A/c		10,000	31/12/18	By Balance C/d		48,812
			56,250				56,250
01/01/19	To Balance b/d		48,812	31/10/19	By Bank A/c		28,415
				31/10/19	By Profit & Loss A/c		5,000
				31/12/19	By Deprecation A/c		7,322
				31/12/19	By Balance C/d		8,075
			48,812				48,812

Working Notes:
(1) Depreciation on machinery purchased on July,1,2017.
Dep. On Dec. 31,2017 = ₹ 3,750
Dep. On Dec. 31,2018 = ₹ 6,938
Dep. On Dec. 31,2019 = ₹ 5,897
(2) Book value of machinery sold on 31/12/2017 = ₹ 33,415(28,415+5,000)
(3) Dep. On machinery purchased on sept. 1,2018:
Dep. On 31/12/2018 = ₹ 500
Dep. On 31/12/2019 = ₹ 1,425
It is all about Question No 15 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 15 Chapter No 11 – Unimax 11 Class

The solution of Question No 15 Chapter No 11 –

Advanced Accountancy – Unimax Class 11 – 2021 – Solution.

Advanced Accountancy – Unimax Class 11 – 2021 – Solution.

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