Question No 3 Chapter No 11 - Unimax 11 Class

Question No 3 Chapter No 11 – Unimax Class 11

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The solution of Question No 3 Chapter No 11 –

Advanced Accountancy – Unimax Class 11 – 2021 – Solution.

Vasu & Co. acquired a machine on 1st July,2016 at a cost of ₹ 70,000 and spent ₹ 5,000 on its installation and carriage. The firm writes off depreciation at 10% of the original cost every year. Prepare Machinery A/c and Deprecation A/c for Four years. The books are closed on 31st December each year.

The solution of Question No 3 Chapter No 11 –

Dr.	Machine A/c						Cr.
Date	Particulars	J.F.	Amount	Date	Particulars	J.F.	Amount
01-07-2016	To Bank A/c		70,000	31-12-2016	By Deprecation A/c		3,750
01/07/16	To Bank A/c (installation cost)		5,000	31-12-2016	By Balance C/d		71,250
			75,000				75,000
01-01-2017	To Balance A/c		71,250	31-12-2017	By Deprecation A/c		7,500
				31-12-2017	By Balance C/d		63,750
			71,250				71,250
01-01-2018	To Balance b/d		63,750	31-12-2018	By Deprecation A/c		7,500
				31-12-2018	By Balance C/d		56,250
			63,750				63,750
01-01-2019	To Balance b/d		56,250	31-12-2019	By Deprecation A/c		7,500
				31-12-2019	By Balance C/d		48,750
			56,250				56,250

Dr.	DepreciationA/c						Cr.
Date	Particulars	J.F.	Amount	Date	Particulars	J.F.	Amount
31/12/16	To Machinery A/c		3,750	31/12/16	By profit & Loss A/c		3,750

			3,750				3,750
31/12/17	To Machinery A/c		3,750	31/12/17	By profit & Loss A/c		3,750

			3,750				3,750
31/12/18	To Machinery A/c		3,750	31/12/18	By profit & Loss A/c		3,750

			3,750				3,750
31/12/18	To Machinery A/c		3,750	31/12/19	By profit & Loss A/c		3,750

			3,750				3,750

It is all about Question No 3 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: –

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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

Question No 3 Chapter No 11 – Unimax 11 Class

The solution of Question No 3 Chapter No 11 –

Advanced Accountancy – Unimax Class 11 – 2021 – Solution.

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