Question No 16 Chapter No 11 – Unimax 11 Class

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

Question No 16 Chapter No 11 – Unimax Class 11

Free Accounting book Solution - Class 11 and Class 12

“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: –

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

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

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