Question No 16 Chapter No 11 - Unimax 11 Class

Question No 16 Chapter No 11 – Unimax Class 11

Table of Contents

The solution of Question No 16 Chapter No 11 –

Advanced Accountancy – Unimax Class 11 – 2021 – Solution.

“Astha” Engineering works purchased a machine on 1st April, 2017 for ₹ 1,80,000 and spent ₹ 20,000 on its installation.
On the 1st January 2018 it purchased another machine for ₹ 2,40,000. On 1st July 2019, the machine purchased on 1st April, 2017 was sold for ₹ 1,45,000. On 1st October,2019 another machine was purchased for ₹ 4,00,000.
Prepare machinery account from 2017 to 2019 after charging depreciation @ 10% p.a. diminishing balance method. Account are closed on 31st December every year.

The solution of Question No 16 Chapter No 11 –

Dr.	Machine A/c						Cr.
Date	Particulars	J.F.	Amount	Date	Particulars	J.F.	Amount
01/04/17	To Balance b/d		1,80,000	31/12/17	By Deprecation A/c		15,000
01/04/17	To Bank A/c		20,000	31/12/17	By Balance C/d		1,85,000
			2,00,000				2,00,000
01/01/18	To Balance b/d		1,85,000	31/12/18	By Deprecation A/c		42,500
01/01/18	To Bank A/c		2,40,000	31/12/18	By Balance C/d		3,82,500
			4,40,000				4,40,000
01/01/19	To Balance b/d		3,82,500	31/10/19	By Bank A/c		1,45,000
01/01/19	To Bank A/c		4,00,000	31/10/19	By Profit & Loss A/c		13,175
				31/12/19	By Deprecation A/c		39,925
				31/12/19	By Balance C/d		5,84,400
			7,82,500				7,82,500

Working Note:
(1) Depreciation on machinery purchased on Apr. 1,2017:
Dep. On Dec.31,2017 = ₹ 15,000
Dep. On Dec.31,2018 = ₹ 18,500
Dep. On Dec.31,2019 = ₹ 8,325
(2) Loss on sales of machinery = ₹ (1,58,175-1,45,000) = ₹ 13,175
(3) Depreciation on machinery purchased on Jan.1,2018:
Dec. on Dec.31,2018 = ₹ 24,000
Dep. on Dec.31,2019 = ₹ 21,600
(4) Depreciation on machinery purchased on Oct.1,2019 on Dec.31,2019 = ₹ 10,000

It is all about Question No 16 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 16 Chapter No 11 – Unimax 11 Class

The solution of Question No 16 Chapter No 11 –

Advanced Accountancy – Unimax Class 11 – 2021 – Solution.

Advanced Accountancy – Unimax Class 11 – 2021 – Solution.

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