Question No 19 Chapter No 11 – Unimax Class 11
A firm purchased on 1st January, 2017 certain machinery for ₹ 5,82,000 and spent ₹ 10,8000 on its erection. On 1st July, 2017, additional machinery costing ₹ 2,00,000 was purchased. On 1st July,2019, the machinery purchased on 1st January, 2017 was auctioned for ₹ 2,86,000 and a fresh machinery for ₹ 4,00,000 was purchased on same date. Depreciation was provided annually on 31st December at the rate of 10% on written down value method. Prepare machinery account from 2017 to 2019.
The solution of Question No 19 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 | 6,00,000 | 31/12/17 | By Deprecation A/c | 70,000 | ||
| 01/07/17 | To Bank A/c | 2,00,000 | 31/12/17 | By Balance C/d | 7,30,000 | ||
| 8,00,000 | 8,00,000 | ||||||
| 01/01/18 | To Balance b/d | 7,30,000 | 31/12/18 | By Deprecation A/c | 73,000 | ||
| 31/12/18 | By Balance C/d | 6,57,000 | |||||
| 7,30,000 | 7,30,000 | ||||||
| 01/01/19 | To Balance b/d | 6,57,000 | 31/10/19 | By Bank A/c | 2,86,000 | ||
| 31/10/19 | By Profit & Loss A/c | 1,75,700 | |||||
| 31/10/19 | By Deprecation A/c | 24,300 | |||||
| 31/12/19 | By Deprecation A/c | 37,100 | |||||
| 31/12/19 | By Balance C/d | 5,33,900 | |||||
| 10,57,000 | 10,57,000 | ||||||
| Working Note: | |
| Original cost of machinery | 6,00,000 |
| Less depreciations (60,000+54,000+24,300) | 1,38,300 |
| Market value | 4,61,700 |
| Sales value | 2,86,000 |
| Loss on sale | 1,75,00 |
It is all about Question No 19 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
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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
- 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