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Question No 06 Chapter No 12 – D.K Goal 11 Class

Question No 06 Chapter No 12 –
D.K Goal 11 Class
 June 6, 2021  Shubham Sharma

Question No 06 Chapter No 12

Question No 06 Chapter No 12

06. A company purchased on 1st July 2015

machinery costing 30,000. it purchases further
machinery on 1st January 2016 costing 20,000
and on 1st October 2016 costing 10,000. on 1st
April 2017, the machinery installed on 1st July
2015 become absolute and was sold for 3,000
Show the Machinery Account for 3 years
charging depreciation by Dxed installment
Method at 10% per annum. Accounts are closed
on 31st March every year.

The solution of Question No 06

Chapter No 12: –
Dr. Plant & Machinery A/c Cr.

Date Particulars J.F. Amount Date Particulars J.F. Amount

By
1st To Bank 31st Deprecation
  30,000   2,750
Jul.2015 A/c Mar2016 A/c(2,250
+500)
1st To Bank 31st By Balance
  20,000   47,250
Jan.2016 A/c Mar2016 C/d
      50,000       50,000
To By
1st Apr 31st
Balance   47,250 Deprecation   5,500
2016 Mar2017
b/f A/c
1st Oct To Bank 31st By Balance
  10,000   53,250
2016 A/c Mar2017 C/d
      57,250       57,250
To By
1st Apr 1st Apr
Balance   51,750 Deprecation   3,000
2017 2017
b/f A/c
1st Apr
        By Loss A/c   21,750
2017
By
31st Deprecation
          3,000
Mar2018 A/c(2,000 +
1,000)
1st Apr By Balance
          24,000
2017 C/d
      51,750       51,750

Working Note:
Calculation of Depreciation

Statement Showing pro:t or loss on the sale of

Machinery

Particulars Amount

Plant value of Equipment as on 1st Jul, 2015 30,000

Less: – Amount of Depreciation
 
charged on the year 2015-16
30,000 *10%* 9/12 2,250
Amount of Depreciation charged on
 
the year 2016-17
30,000 *10%* 12/12 3,000
Book value of asset as of 31st Dec
24,750
2018
Sale Price of Machinery 3,000
Loss on the sale of the asset 21,750

Depreciation | Meaning |
Methods | Examples
Deprecation is a very simple and scoring chapter
for all class 11 students. It is just a conceptual
chapter. SO are you ready to learn more new
concepts? Let’s start. Meaning of Depreciation:
Depreciation means the decrease in the value …
Continue reading

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Also, Check out the solved question of all

Chapters: –

D K Goel – New ISC Accountancy -

(Class 11 – ICSE)- Solution
Chapter 1 Evolution of Accounting & Basic
Accounting Terms
Chapter 2 Accounting Equations
Chapter 3 Meaning and Objectives of Accounting
Chapter 4 Double Entry System
Chapter 5 Books of Original Entry – Journal 
Chapter 6 Accounting for Goods and Service Tax
(GST) (Coming soon)
Chapter 7 Books of Original Entry – Cash Book
(Coming soon)
Chapter 8 Books of Original Entry – Special Purpose
Subsidiary Books (Coming soon)
Chapter 9 Ledger (Coming soon)
Chapter 10 Trial Balance and Errors (Coming soon)
Chapter 11 Bank Reconciliation Statement (Coming
soon)
Chapter 12 Depreciation (Coming soon)
Chapter 13 Bills of Exchange (Coming soon)
Chapter 14 Generally Accepted Accounting
Principles(GAAP) 
Chapter 15 Bases of Accounting
Chapter 16 Accounting Standards and International
Financial Reporting Standard(IFRS) (Coming soon)
Chapter 17 Capital and Revenue 
Chapter 18 Provisions and Reserves 
Chapter 19 Final Accounts (Coming soon)
Chapter 20 Final Accounts – With Adjustments
(Coming soon)
Chapter 21 Errors and their Recti:cation (Coming
soon)
Chapter 22 Accounts from Incomplete Records –
Single Entry System (Coming soon)
Chapter 23 Accounts of Not-for-Pro:t Organisations
(Coming soon)
Chapter 24 Computerised Accounting System
(Coming soon)
Chapter 25 Introduction to Accounting Information
System (Coming soon)

Check out the Accountancy Class +1 by D.K.

Goal (Arya Publication) from their oIcial
Site.

D K Goel accountancy +1 –
ISC_Accounts_11_20_Image
Question No 42 Chapter No
11 – D.K Goal 11 Class

Related

Question No 18 Chapter Question No 07 Chapter

No 12 – D.K Goal 11 Class No 12 – D.K Goal 11 Class
June 8, 2021 June 6, 2021
In "Chapter No. 12. In "Chapter No. 12.
Depreciation" Depreciation"

Question No 22 Chapter
No 12 – D.K Goal 11 Class
June 9, 2021
In "Chapter No. 12.
Depreciation"

 Chapter No. 12. Depreciation, D.K Goal +1 New ISC

Accountancy

Question 40 Chapter 5 of +2 Part-1 – USHA

Publication 12 Class Part – 1

Question No 07 Chapter No 12 – D.K Goal 11

Class

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