Question No 2 Chapter No 11 – Unimax Class 11
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
- 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
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
- 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