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Question No 23 Chapter No 11 – Unimax Class 11
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23. (with GST). ABC Ltd. Purchased on 1st April,2018 a plant for ₹ 1,00,000 plus CGST And SGST @ 6% each. On 1st October 2018, an additional plant was purchased costing ₹ 50,000 plus CGST and SGST @ 6% each. On 1st October 2019 and the plant purchased on 1st April 2018 having become obsolete was sold for ₹ 40,000, charging CGST and SGST @ 6% each. Depreciation is provided @ 10% p.a. on cost on 31st March every year. Show the machinery, Machinery Disposal, and Provision for depreciation accounts for the years ended 31st March 2019 and 2020. Also show CGST and SGST account for the two years.
The solution of Question No 23 Chapter No 11 – Unimax Class 11
| Dr. | Machinery A/c | Cr. | |||||
| Date | Particulars | J.F. | Amount | Date | Particulars | J.F. | Amount |
| 01/04/18 | To Bank A/c (machine 1) | 1,00,000 | 31/03/19 | By Balance c/d | 1,50,000 | ||
| 01/10/18 | To Bank A/c (machine 2) | 50,000 | |||||
| 1,50,000 | 1,50,000 | ||||||
| 01/04/19 | To Balance b/d | 1,50,000 | 01/10/19 | By Machine disposal A/c | 1,00,000 | ||
| 31/03/20 | By Balance C/d | 50,000 | |||||
| 1,50,000 | 1,50,000 | ||||||
| 01/04/20 | To Balance b/d | 50,000 | |||||
| Dr. | Provision for depreciation A/c | Cr. | |||||
| Date | Particulars | J.F. | Amount | Date | Particulars | J.F. | Amount |
| 31/03/19 | To Balance c/d | 12,500 | 31/03/19 | By Depreciation (machine 1) A/c | 10,000 | ||
| 31/03/19 | By Depreciation (machine 2) A/c | 2,500 | |||||
| 12,500 | 12,500 | ||||||
| 01/10/19 | To Machine disposal A/c | 15,000 | 01/04/19 | By Balance b/d | 12,500 | ||
| 31/12/20 | To Balance c/d | 7,500 | 01/10/19 | By Depreciation (machine 1) A/c | 5,000 | ||
| 31/03/20 | By Depreciation (machine 2) A/c | 5,000 | |||||
| 22,500 | 22,500 | ||||||
| Dr. | Machine disposal A/c | Cr. | |||||
| Date | Particulars | J.F. | Amount | Date | Particulars | J.F. | Amount |
| 01/10/19 | To Machinery A/c | 1,00,000 | 01/10/19 | By Provision for | 15,000 | ||
| 01/10/19 | By Bank A/c | 40,000 | |||||
| 01/01/18 | By Profit & Loss A/c | 45,000 | |||||
| 1,00,000 | 1,00,000 | ||||||
| Dr. | Input CGST A/c | Cr. | |||||
| Date | Particulars | J.F. | Amount | Date | Particulars | J.F. | Amount |
| 01/04/18 | To Bank A/c | 6,000 | 31/03/19 | By Balance c/d | 9,000 | ||
| 01/10/18 | To Bank A/c | 3,000 | |||||
| 9,000 | 9,000 | ||||||
| Dr. | Input SGST A/c | Cr. | |||||
| Date | Particulars | J.F. | Amount | Date | Particulars | J.F. | Amount |
| 01/04/18 | To Bank A/c | 6,000 | 31/03/19 | By Balance c/d | 9,000 | ||
| 01/10/18 | To Bank A/c | 3,000 | |||||
| 9,000 | 9,000 | ||||||
| Dr. | Output CGST A/c | Cr. | |||||
| Date | Particulars | J.F. | Amount | Date | Particulars | J.F. | Amount |
| 31/03/20 | To Balance c/d | 2,400 | 01/10/19 | By Bank A/c | 2,400 | ||
| 2,400 | 2,400 | ||||||
| Dr. | Output SGST A/c | Cr. | |||||
| Date | Particulars | J.F. | Amount | Date | Particulars | J.F. | Amount |
| 31/03/20 | To Balance c/d | 2,400 | 01/10/19 | By Bank A/c | 2,400 | ||
| 2,400 | 2,400 | ||||||
It is all about Question No 23 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
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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 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
- 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