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Question 8 Chapter 12 – Class 11 Unimax

Question 8 Chapter 12 – Class 11 Unimax

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Question 8 Chapter 12 – Class 11 Unimax

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 8 Chapter 12 – Class 11 Unimax: 

Dr.Book of company repairs and renewal reserve A/c Cr.
DateParticularsJ.F.AmountDateParticularsJ.F.Amount
1st year   1st year   
Dec.31To Cash A/c 50Dec.31By p & L A/c 400
Dec.31To Balance c/d 350    
        
   400   400
        
2nd year   2nd year   
Dec.31To Cash A/c 90Jan.1By Balance b/d 350
Dec.31To Balance c/d 660Dec.31By P & L A/c 400
        
   750   750
        
3rd year   3rd year   
Dec.31To Cash A/c 150Jan.1By Balance b/d 660
Dec.31To Balance c/d 910Dec.31By P & L A/c 400
        
   1,060   1,060
        
4th year   4th year   
Dec.31To cash A/c 170Jan.1By Balance b/d 910
Dec.31To Balance c/d 1,140Dec.31By P & L A/c 400
        
   1,310   1,310
        
    5th year   
    Jan.1By balance b/d 1,140

 

End of Solution


Check Out the Solution of all questions for this chapter:

The solutions to all questions of Chapter No. 12 – Provision and Reserves Unimax are shown as follows, click on the image of the question to get the solution.

1. Comprehensive Solutions for All Chapters of Advanced Accountancy I Class 11 by Unimax

UnimaxSolutions.in offers a comprehensive solution for students studying Advanced Accountancy I Part 1 in Class 11. With their meticulously curated study material, students can access comprehensive solutions to all the questions included within each chapter. By selecting the chapter name from the study material, students can easily navigate through the topics and find detailed explanations and step-by-step solutions to the problems presented in that section. Whether it’s understanding complex accounting concepts, mastering calculation techniques, or analyzing financial statements, Unimax provides a valuable resource to aid students in their learning journey. With these comprehensive solutions at their disposal, students can enhance their understanding, clarify doubts, and improve their problem-solving skills in Advanced Accountancy, ensuring they are well-prepared for their Class 11 examinations.

2. Punjab School Education Board (PSEB) Solutions of Usha Publication.

If you’re a student enrolled in the Punjab School Education Board Class 11, it’s essential to explore a wide range of books to cover the syllabus thoroughly. While the prescribed textbooks are undoubtedly valuable, supplementing your studies with additional resources can enhance your understanding and knowledge. Consider checking out other books that align with the curriculum, offering different perspectives and insights on the subjects you’re studying. These supplementary materials can provide you with alternative explanations, practice questions, and examples that may aid in clarifying complex concepts. Moreover, exploring diverse sources can expose you to a variety of writing styles and viewpoints, fostering a broader understanding of the subjects. So, seize the opportunity to expand your learning by delving into other books that can complement your studies and contribute to your academic growth.

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