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Question 9 Chapter 11 – Unimax Publications of Class 11
K. Ltd. Purchased a machinery worth ₹ 8,00,000 as 1st January,2016. On 1st July,2017 it purchased a new machinery for ₹ 2,60,000 and spent ₹ 40,000 on its cartage and installation. On 1st October,2018 it purchased another machinery for ₹ 1,80,000and spent ₹ 20,000 for its installation. The machine purchased on 1st July,2017 was sold off on 31st march 2020 for ₹ 1,55,000. Depreciation is charges @ 15% p.a. on straight line method. Prepare plant and machinery account for 5 years, assuming that books are closed on 31st March every year.
The solution of Question 9 Chapter 11 – Unimax Publications of Class 11
| Dr. | Machine A/c | Cr. | |||||
| Date | Particulars | J.F. | Amount | Date | Particulars | J.F. | Amount |
| 01-01-2016 | To Bank A/c | 8,00,000 | 31-03-2016 | By Deprecation A/c | 30,000 | ||
| 31-03-2014 | By Balance C/d | 7,70,000 | |||||
| 8,00,000 | 8,00,000 | ||||||
| 01-04-2016 | To Balance b/d | 7,70,000 | 31-03-2017 | By Deprecation A/c | 1,20,000 | ||
| 31-03-2017 | By Balance C/d | 6,50,000 | |||||
| 7,70,000 | 7,70,000 | ||||||
| 01-04-2017 | To Balance b/d | 6,50,000 | 31-03-2018 | By Deprecation A/c | 1,20,000 | ||
| 01-07-2017 | To Bank A/c | 3,00,000 | 31-03-2018 | By Deprecation A/c | 33,750 | ||
| 31-03-2018 | By Balance C/d | 7,96,250 | |||||
| 9,50,000 | 9,50,000 | ||||||
| 01-04-2018 | To Balance b/d | 7,96,250 | 31-03-2019 | By Deprecation A/c | 1,65,000 | ||
| 01-10-2018 | To Bank A/c | 2,00,000 | 31-03-2019 | By Deprecation A/c | 15,000 | ||
| 31-03-2019 | By Balance C/d | 8,16,250 | |||||
| 9,96,250 | 9,96,250 | ||||||
| 01-04-2019 | To Balance b/d | 8,16,250 | 31-03-2020 | By Deprecation A/c | 1,50,000 | ||
| 31-03-2020 | By Deprecation A/c | 45,000 | |||||
| 31-03-2020 | By Bank A/c | 1,55,000 | |||||
| 31-03-2020 | By Profit & Loss A/c | 21,250 | |||||
| 31-03-2018 | By Balance C/d | 4,45,000 | |||||
| 8,16,250 | 8,16,250 | ||||||
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