Question No 2 Chapter No 11 - Unimax 11 Class

Question No 2 Chapter No 11 – Unimax Class 11

Table of Contents

The solution of Question No 2 Chapter No 11 –

Advanced Accountancy – Unimax Class 11 – 2021 – Solution.

On 1st January 2016, a limited company purchases a machine for ₹ 72,000 and spent ₹ 4,000 on its installation. At the date of purchase, it was estimated that the scrap value of the machine would be 4 6,000 at the end of ten year.
Prepare machinery account by and Depreciation A/c in the books of company for 4 years it deprecation is provided by Fixed Instalment method. The books are closed on 31st December each year.

The solution of Question No 2 Chapter No 11 –

Dr.	Machine A/c						Cr.
Date	Particulars	J.F.	Amount	Date	Particulars	J.F.	Amount
1/01/2016	To Bank A/c		72,000	31/01/16	By Deprecation A/c		7,000
01/01/16	To Bank A/c (installation cost)		4,000	31/01/16	By Balance C/d		69,000
			76,000				76,000
1/01/2017	To Balance b/d		69,000	31/01/17	By Deprecation A/c		7,000
				31/01/17	By Balance C/d		62,000
			69,000				69,000
1/01/2018	To Balance b/d		62,000	31/01/18	By Deprecation A/c		7,000
				31/01/18	By Balance C/d		55,000
			62,000				62,000
1/01/2019	To Balance b/d		55,000	31/01/19	By Deprecation A/c		7,000
				31/01/19	By Balance C/d		48,000
			55,000				55,000

Dr.	DepreciationA/c						Cr.
Date	Particulars	J.F.	Amount	Date	Particulars	J.F.	Amount
31/12/16	To Machinery A/c		7,000	31/12/16	By profit & Loss A/c		7,000

			7,000				7,000
31/12/17	To Machinery A/c		7,000	31/12/17	By profit & Loss A/c		7,000

			7,000				7,000
31/12/18	To Machinery A/c		7,000	31/12/18	By profit & Loss A/c		7,000

			7,000				7,000
31/12/19	To Machinery A/c		7,000	31/12/19	By profit & Loss A/c		7,000

			7,000				7,000

It is all about Question No 2 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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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

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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 2 Chapter No 11 – Unimax 11 Class

The solution of Question No 2 Chapter No 11 –

Advanced Accountancy – Unimax Class 11 – 2021 – Solution.

Advanced Accountancy – Unimax Class 11 – 2021 – Solution.

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