Question No 22 Chapter No 11 - Unimax 11 Class

Question No 22 Chapter No 11 – Unimax Class 11

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The solution of Question No 22 Chapter No 11 –

Advanced Accountancy – Unimax Class 11 – 2021 – Solution.

On January 01,2017 Khosla Transport Co. purchased five trucks for ₹ 20,000 each. Depreciation has provided at the rate of 10% p.a. using straight line method and accumulated in provision for depreciation account. On January 1,2018 one truck was sold for ₹ 15,000. On July 1,2019, another truck (purchased for ₹ 20,000 on January 1,2017 was sold for ₹ 18,000. A new truck costing ₹ 30,000 was purchased on October 1,2019. You are required to prepare truck account, provision for depreciation account and truck disposal account for the years ended on December 2017,2018 and 2019 assuming that the firm closes its accounts in December every year.)

The solution of Question No 22 Chapter No 11 –

Dr.	Truck A/c						Cr.
Date	Particulars	J.F.	Amount	Date	Particulars	J.F.	Amount
01/01/17	To Bank A/c		1,00,000	31/12/17	By Balance c/d		1,00,000
			1,00,000				1,00,000
01/01/18	To Balance b/d		1,00,000	01/01/18	By Truck disposal A/c		20,000
				31/12/18	By Balance C/d		80,000
			1,00,000				1,00,000
01/01/19	To Balance b/d		80,000	01/01/19	By Truck disposal A/c		20,000
01/10/19	To Bank A/c		30,000	31/12/19	By Balance C/d		90,000
			1,10,000				1,10,000

Dr.	Truck A/c						Cr.
Date	Particulars	J.F.	Amount	Date	Particulars	J.F.	Amount
01/01/17	To Balance c/d		10,000	31/12/17	By Depreciation A/c		10,000
			10,000				10,000
01/01/18	To Truck disposal A/c		2,000	01/01/18	By Balance b/d		10,000
31/12/18	To Balance c/d		16,000	31/12/18	By Depreciation A/c		8,000
			18,000				18,000
01/07/19	To Truck disposal A/c		5,000	01/01/19	By Balance b/d		16,000
01/12/19	To Balance c/d		18,750	31/12/19	By Deprecation A/c		7,750
			23,750				23,750

Dr.	Machine A/c						Cr.
Date	Particulars	J.F.	Amount	Date	Particulars	J.F.	Amount
01/01/18	To Truck A/c		20,000	01/01/18	By Bank A/c		15,000
				01/01/18	By Profit & Loss A/c		3,000
				01/01/18	By Provision for deprecation A/c		2,000

			20,000				20,000
01/07/19	To Truck A/c		20,000	01/07/19	By Provision for deprecation A/c		5,000
01/07/19	To Profit & Loss A/c		3,000	01/07/19	By Bank A/c		18,000
			23,000				23,000

It is all about Question No 22 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 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

Question No 22 Chapter No 11 – Unimax 11 Class

The solution of Question No 22 Chapter No 11 –

Advanced Accountancy – Unimax Class 11 – 2021 – Solution.

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