Question No 17 Chapter No 11 – Unimax 11 Class

Qustion-No-17-Chapter-No-11-UNIMAX-Class-11

Question No 17 Chapter No 11 – Unimax Class 11

Free Accounting book Solution - Class 11 and Class 12

On 1.1.2016, Mrs. Neelam Sharma bought a machinery for ₹ 25,000 on which she spent ₹ 5,000 for carriage and freight, ₹ 1,000 for brokerage of the middle-man, ₹ 3,500 for installation and ₹ 500 for an iron pad. The machinery is depreciated @ 10% per annum on written down value basis. After four years the machine was sold to Deep for ₹ 30,500 and ₹ 500 were paid or loss on sale of machine if the accounts are closed on 31st December every year.

The solution of Question No 17 Chapter No 11 –

Dr. Machine A/c Cr.
Date Particulars J.F. Amount Date Particulars J.F. Amount
01/01/16 To Bank A/c   25,000 31/03/16 By Deprecation A/c   3,500
01/01/16 To Bank A/c (carriage and freight cost)   5,000 31/03/16 By Balance C/d   31,500
01/01/16 To Bank A/c (brokerage paid)   1,000        
01/01/16 To Bank A/c (installation cost)   3,500        
01/01/16 To Bank A/c   500        
      35,000       35,000
01/01/17 To Balance b/d   31,500 31/03/17 By Deprecation A/c   3,150
        31/03/17 By Balance C/d   28,350
      31,500       31,500
01/01/18 To Balance b/d   28,350 31/12/18 By Deprecation A/c   2,835
        31/12/18 By Balance C/d   25,515
      28,350       28,350
01/01/19 To Balance b/d   25,515 31/12/19 By Deprecation A/c   2,552
31/12/19 To Profit & loss A/c     7,037  31/12/19 By Balance C/d   30,000
      32,552       32,552

 

It is all about Question No 17 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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