Question No 10 Chapter No 12 – D.K Goal 11 Class

Question No 10 Chapter No 12

10. From the following transactions of concern, prepare Machinery Account for the year ending 31st March 2013:-

2019
Apr-01	:	Purchased second-hand machinery for 40,000.
Apr-01	:	Spent 10,000 on repairs for making it serviceable
Sept. 30	:	Purchased additional new machinery for 20,000.
Dec. 31	:	Repairs and renewals of machinery 2,000.
2013
Mar-31	:	Depreciate the machinery at 10% p.a

The solution of Question No 10 Chapter No 12: –

Dr.	Machinery A/c						Cr.
Date	Particulars	J.F.	Amount	Date	Particulars	J.F.	Amount
Apr. 01	To Bank A/c (M1) (40,000 + 10,000)		50,000	31st Mar	By Deprecation A/c (5,000 + 1,000)		6,000
Sept.30	To Bank A/c (M2)		20,000		By Balance C/d		64,000
			70,000				70,000

Note: Repair charges of Rs 2,000 are categorized under revenue expenditure because these are incurred on December 31, 2012, but machinery has been purchased on September 30, 2012

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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 Rectification (Coming soon)
• Chapter 22 Accounts from Incomplete Records – Single Entry System (Coming soon)
• Chapter 23 Accounts of Not-for-Profit Organisations (Coming soon)
• Chapter 24 Computerised Accounting System (Coming soon)
• Chapter 25 Introduction to Accounting Information System (Coming soon)

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