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Question 8 Chapter 11 – Unimax Publications of Class 11
From the following transactions of a concern, prepare machinery account for the year ending 31st Dec.2019:
Jan.1: Purchased a second-hand machinery for ₹ 40,000.
Jan.1: Spent ₹ 10,000 on repair for making it serviceable.
Jun.30: Purchased additional new machinery for ₹ 20,000.
Set.10: Repair and renewals of machinery for ₹ 2,000.
Dec.31: Depreciate the machinery at 10% p.a.
The solution of Question 8 Chapter 11 – Unimax Publications of Class 11
| Dr. | Machine A/c | Cr. | |||||
| Date | Particulars | J.F. | Amount | Date | Particulars | J.F. | Amount |
| 01/01/19 | To Bank A/c | 40,000 | 31/12/19 | By Deprecation A/c | 6,000 | ||
| 01/01/19 | To Bank A/c | 10,000 | 31/12/19 | By Balance C/d | 64,000 | ||
| 30/06/19 | To Bank A/c | 20,000 | |||||
| 70,000 | 70,000 | ||||||
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