Question No 35 Chapter No 12
35. The following balances appear in the books of M/s Amrit:
| 1st April 2018 Machinery A/c | 60,000 |
| 1st April 2018 Provision for depreciation A/c | 36,000 |
On 1st April 2018, they decided to dispose of machinery for 8,400 which was purchased on 1st April 2014 for 16,000. You are required to prepare Machinery A/c, Provision for Depreciation A/c, and Machinery Disposal A/c for 2018-19. Depreciation was charged at 10% p.a on the original cost method.
The solution of Question No 35 Chapter No 12: –
| Dr. | Plant A/c | Cr. | |||||
| Date | Particulars |
J.F. | Amount | Date | Particulars |
J.F. | Amount |
| 1st Apr.2018 | To Balance b/f | 60,000 | 1st Apr 2018 | By Machinery Disposal A/c | 16,000 | ||
| 31st Mar 2019 |
By Balance C/d |
44,000 | |||||
| 60,000 | 60,000 | ||||||
| Dr. | Machinery Disposal A/c | Cr. | |||||
| Date | Particulars |
J.F. | Amount | Date | Particulars |
J.F. | Amount |
| 1st Apr 2018 | To Machine Disposal A/c | 16,000 | 1st Apr 2018 | By Provision for Depreciation A/c | 6,400 | ||
| 1st Oct 2019 | By Bank A/c (Sale) | 8,400 | |||||
| 1st Oct 2019 | By Profit & Loss A/c | 1,200 | |||||
| 16,000 | 16,000 | ||||||
| Dr. | Provision for Depreciation A/c | Cr. | |||||
| Date | Particulars |
J.F. | Amount | Date | Particulars |
J.F. | Amount |
| 31stOct.2019 | To Machine Disposal A/c | 6,400 | 31st Apr 2018 | By Balance b/d | 40,000 | ||
| 1st Oct 2019 | By Depreciation A/c (4,000 + 400) | 4,400 | |||||
| 31stMar.2019 | To Balance b/f | 34,000 |
|||||
| 44,400 | 44,400 | ||||||
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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)
Check out the Accountancy Class +1 by D.K. Goal (Arya Publication) from their official Site.
