Question No 19 Chapter No 11 – Unimax 11 Class

Qustion-No-19-Chapter-No-11-UNIMAX-Class-11

Question No 19 Chapter No 11 – Unimax Class 11

Free Accounting book Solution - Class 11 and Class 12

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

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

 

 

 

 

 

 

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