Advertisement

Question No 16 Chapter No 11 – Unimax 11 Class

Qustion-No-16-Chapter-No-11-UNIMAX-Class-11
Qustion-No-16-Chapter-No-11-UNIMAX-Class-11

Advertisement

Question No 16 Chapter No 11 – Unimax Class 11

Advertisement

“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/cCr.
DateParticularsJ.F.AmountDateParticularsJ.F.Amount
01/04/17To Balance b/d 1,80,00031/12/17By Deprecation A/c 15,000
01/04/17To Bank A/c 20,00031/12/17By Balance C/d 1,85,000
   2,00,000   2,00,000
01/01/18To Balance b/d 1,85,00031/12/18By Deprecation A/c 42,500
01/01/18To Bank A/c 2,40,00031/12/18By Balance C/d 3,82,500
   4,40,000   4,40,000
01/01/19To Balance b/d 3,82,50031/10/19By Bank A/c 1,45,000
01/01/19To Bank A/c 4,00,00031/10/19By Profit & Loss A/c 13,175
    31/12/19By Deprecation A/c 39,925
    31/12/19By 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.

Advertisement-X

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.

Advertisement-X

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

Advertisement-X

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

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

Advertisement-X

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

Advertisement

Advertisement

error: Content is protected !!