Question No 8 Chapter No 12 – Unimax Class 11
A company decided to transfer ₹ 400 every year to repair and renewals reserve account maintained for a machine recently purchased. In the 1st 4 years, annual repairs were ₹ 50, ₹ 90, ₹ 150 and ₹ 170 respectively. Prepare repairs and renewals reserve account for these 4 years.
The solution of Question No 8 Chapter No 12 – Unimax Class 11:
| Dr. | Book of company repairs and renewal reserve A/c | Cr. | |||||
| Date | Particulars | J.F. | Amount | Date | Particulars | J.F. | Amount |
| 1st year | 1st year | ||||||
| Dec.31 | To Cash A/c | 50 | Dec.31 | By p & L A/c | 400 | ||
| Dec.31 | To Balance c/d | 350 | |||||
| 400 | 400 | ||||||
| 2nd year | 2nd year | ||||||
| Dec.31 | To Cash A/c | 90 | Jan.1 | By Balance b/d | 350 | ||
| Dec.31 | To Balance c/d | 660 | Dec.31 | By P & L A/c | 400 | ||
| 750 | 750 | ||||||
| 3rd year | 3rd year | ||||||
| Dec.31 | To Cash A/c | 150 | Jan.1 | By Balance b/d | 660 | ||
| Dec.31 | To Balance c/d | 910 | Dec.31 | By P & L A/c | 400 | ||
| 1,060 | 1,060 | ||||||
| 4th year | 4th year | ||||||
| Dec.31 | To cash A/c | 170 | Jan.1 | By Balance b/d | 910 | ||
| Dec.31 | To Balance c/d | 1,140 | Dec.31 | By P & L A/c | 400 | ||
| 1,310 | 1,310 | ||||||
| 5th year | |||||||
| Jan.1 | By balance b/d | 1,140 | |||||
It is all about Question No 8 Chapter 12 of Class 11 unimax, If you have any problem please comment below.
Read out the full article to know the meaning of Depreciation
Provisions and Reserves | Meaning | Methods | Examples
Provision and Reserve: Differences with example
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
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