Question No 18 Chapter No 11 – Unimax 11 Class

Qustion-No-18-Chapter-No-11-UNIMAX-Class-11

Question No 18 Chapter No 11 – Unimax Class 11

Free Accounting book Solution - Class 11 and Class 12

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: –

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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