Question No 18 Chapter No 11 - Unimax 11 Class

Question No 18 Chapter No 11 – Unimax Class 11

Table of Contents

The solution of Question No 18 Chapter No 11 –

Advanced Accountancy – Unimax Class 11 – 2021 – Solution.

A company whose accounting year is the calendar year purchased on 1st April, 2017 machinery costing ₹ 30,000. It further purchased machinery on 1st Oct.2017 costing ₹ 20,000 and on 1st July, 2018 costing ₹ 10,000.
On 1st Jan., 2019 one third of the machinery installed on 1st April, 2017 become obsolete and was sold for ₹ 3,000.
Show how the machinery account would appear in the books of company if depreciation is charges at 10% p.a. on written down value method.

The solution of Question No 18 Chapter No 11 –

Dr.	Machine A/c						Cr.
Date	Particulars	J.F.	Amount	Date	Particulars	J.F.	Amount
01/04/17	To Bank A/c		30,000	31/12/17	By Deprecation A/c		2,750
01/10/17	To Bank A/c		20,000	31/12/17	By Balance C/d		47,250
			50,000				50,000
01/01/18	To Balance b/d		47,250	31/12/18	By Deprecation A/c		5,225
01/07/18	To Bank A/c		10,000	31/12/18	By Balance C/d		52,025
			57,250				57,250
01/01/19	To Balance b/d		52,025	31/10/19	By Bank A/c		3,000
				31/10/19	By Profit & Loss A/c		5,325
				31/12/19	By Deprecation A/c		4,370
				31/12/19	By Balance C/d		39,330
			52,025				52,025

Working Notes:
(1) Dep. On machinery purchased on Apr.1,2017:
Dep. On 31/12/2017 = ₹ 2,250
Dep. On 31/12/2018 = ₹ 2,775
Dep. On 31/12/2019 = ₹ 1,665
(2) Book value of one third machinery purchased = ₹ 8,325.
(3) Loss on sale of machinery = ₹ (8,325-3,000) = ₹ 5,325
(4) Dep. On machinery purchased on oct.1,2018:
Dep. on 31/12/2017 = ₹ 500
Dep. On 31/12/2018 = ₹ 1,950
Dep. On 31/12/2019 = ₹ 1,755
(5) Dep. On machinery purchased on July 1,2018.
Dep. On 31/12/2018 = ₹ 500
Dep. On 31/12/2019 = ₹ 950

It is all about Question No 8 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 18 Chapter No 11 – Unimax 11 Class

The solution of Question No 18 Chapter No 11 –

Advanced Accountancy – Unimax Class 11 – 2021 – Solution.

Advanced Accountancy – Unimax Class 11 – 2021 – Solution.

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