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Accountancy Solution for Class 11 Commerce Accountancy Part I Chapter 7 - Depreciation, Provisions and Reserves

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NCERT Textbook Solutions are considered extremely helpful when preparing for your CBSE Class 11 Accountancy part 1 exams. TopperLearning study resources infuse profound knowledge, and our Textbook Solutions compiled by our subject experts are no different. Here you will find all the answers to the NCERT textbook questions of Chapter 7 - Depreciation, Provisions and Reserves.

All our solutions for Chapter 7 - Depreciation, Provisions and Reserves are prepared considering the latest CBSE syllabus, and they are amended from time to time. Our free NCERT Textbook Solutions for CBSE Class 11 Accountancy part 1 will strengthen your fundamentals in this chapter and can help you to score more marks in the examination. Refer to our Textbook Solutions any time, while doing your homework or while preparing for the exam.

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Accountancy Solution for Class 11 Commerce Accountancy Part I Chapter 7 - Depreciation, Provisions and Reserves Page/Excercise 273

Solution NUM 1

 

Books of Bajrang Marbles

Machinery Account 

Dr.

 

 

 

 

 

 

Cr.

Date

Particulars

J.F.

Amount Rs. 

Date

Particulars

J.F.

Amount Rs. 

2010

 

 

 

2011

 

 

 

Apr 01

To Bank A/c

 

3,00,000

Mar31

By Depreciation A/c

 

28,000

 

 

 

 

Mar31

By Balance c/d

 

2,72,000

 

 

 

3,00,000

 

 

 

3,00,000

2011

 

 

 

2012

 

 

 

Apr01

To Balance b/d

 

2,72,000

Mar31

By Depreciation A/c

 

28,000

 

 

 

 

Mar 31

By Balance c/d

 

2,44,000

 

 

 

2,72,000

 

 

 

2,72,000

2012

 

 

 

2013

 

 

 

Apr 01

To Balance b/d

 

2,44,000

Mar 31

By Depreciation A/c

 

28,000

 

 

 

 

Mar 31

By Balance c/d

 

2,16,000

 

 

 

2,44,000

 

 

 

2,44,000

2013

 

 

 

2014

 

 

 

Apr 01

To Balance b/d

 

2,16,000

Mar 31

By Depreciation A/c

 

28,000

 

 

 

 

Mar 31

By Balance c/d

 

1,88,000

 

 

 

2,16,000

 

 

 

2,16,000

 

 

 

Depreciation Account

Dr.

 

 

 

 

 

 

Cr.

Date

Particulars

J.F.

Amount Rs. 

Date

Particulars

J.F.

Amount Rs. 

2011

 

 

 

2011

 

 

 

Mar 31

To Machinery A/c

 

28,000

Mar 31

By Profit and Loss A/c

 

28,000

 

 

 

28,000

 

 

 

28,000

2012

 

 

 

2012

 

 

 

Mar 31

To Machinery A/c

 

28,000

Mar 31

By Profit and Loss A/c

 

28,000

 

 

 

28,000

 

 

 

28,000

2013

 

 

 

2013

 

 

 

Mar 31

To Machinery A/c

 

28,000

Mar 31

By Profit and Loss A/c

 

28,000

 

 

 

28,000

 

 

 

28,000

2014

 

 

 

2014

 

 

 

Mar 31

To Machinery A/c

 

28,000

Mar 31

By Profit and Loss A/c

 

28,000

 

 

 

28,000

 

 

 

28,000

 

 

Working notes :

1. Calculation of annual depreciation

Depreciation p.a.

= Cost-Scrap Value/Estimated Life of Assets(years)

 

=(2,80,000+10,000+10,000)-20,000/10

 

= Rs.28,000 per annum

-------------------- 

Books of Bajrang Marbles 

Machinery Account 

Dr.

 

 

 

 

 

 

Cr.

Date

Particulars

J.F.

Amount Rs. 

Date

Particulars

J.F.

Amount Rs. 

2010

 

 

 

2011

 

 

 

Apr 01

To Bank A/c

 

3,00,000

Mar 31

By Balance c/d

 

3,00,000

 

 

 

3,00,000

 

 

 

3,00,000

2011

 

 

 

2012

 

 

 

Apr 01

To Balance b/d

 

3,00,000

Mar 31

By Balance c/d

 

3,00,000

 

 

 

3,00,000

 

 

 

3,00,000

2012

 

 

 

2013

 

 

 

Apr 01

To Balance b/d

 

3,00,000

Mar 31

By Balance c/d

 

3,00,000

 

 

 

3,00,000

 

 

 

3,00,000

2013

 

 

 

2014

 

 

 

Apr 01

To Balance b/d

 

3,00,000

Mar 31

By Balance c/d

 

3,00,000

 

 

 

3,00,000

 

 

 

3,00,000

 

 

 

Provision for Depreciation Account 

Dr.

 

 

 

 

 

 

Cr.

Date

Particulars

J.F.

Amount Rs. 

Date

Particulars

J.F.

Amount Rs. 

2011

 

 

 

2011

 

 

 

Mar 31

To Balance c/d

 

28,000

Mar.31

By Depreciation A/c

 

28,000

 

 

 

28,000

 

 

 

28,000

2012

 

 

 

2011

 

 

 

Mar 31

To Balance c/d

 

56,000

Apr 01

By Balance b/d

 

28,000

 

 

 

 

2012

 

 

 

 

 

 

 

Mar 31

By Depreciation A/c

 

28,000

 

 

 

56,000

 

 

 

56,000

2013

 

 

 

2012

 

 

 

Mar 31

To Balance c/d

 

84,000

Apr 01

By Balance b/d

 

56,000

 

 

 

 

2013

 

 

 

 

 

 

 

Mar 31

By Depreciation A/c

 

28,000

 

 

 

84,000

 

 

 

84,000

2014

 

 

 

2013

 

 

 

Mar 31

To Balance c/d

 

1,12,000

Apr 01

By Balance b/d

 

84,000

 

 

 

 

2014

 

 

 

 

 

 

 

Mar 31

By Depreciation A/c

 

28,000

 

 

 

1,12,000

 

 

 

1,12,000

 

 

Depreciation Account 

Dr.

 

 

 

 

 

 

Cr.

Date

Particulars

J.F.

Amount Rs. 

Date

Particulars

J.F.

Amount Rs. 

2011

 

 

 

2011

 

 

 

Mar 31

To Provision for Depreciation A/c

 

28,000

Mar 31

By Profit and Loss A/c

 

28,000

 

 

 

28,000

 

 

 

28,000

2012

 

 

 

2012

 

 

 

Mar 31

To Provision for Depreciation A/c

 

28,000

Mar 31

By Profit and Loss A/c

 

28,000

 

 

 

28,000

 

 

 

28,000

2013

 

 

 

2013

 

 

 

Mar 31

To Provision for Depreciation A/c

 

28,000

Mar 31

By Profit and Loss A/c

 

28,000

 

 

 

28,000

 

 

 

28,000

2014

 

 

 

2014

 

 

 

Mar 31

To Provision for Depreciation A/c

 

28,000

Mar 31

By Profit and Loss A/c

 

28,000

 

 

 

28,000

 

 

 

28,000

 

 

Solution NUM 2

 

 

Books of Ashok Ltd.

Machinery Account 

Dr.

 

 

 

 

 

 

Cr.

Date

Particulars

J.F.

Amount Rs. 

Date

Particulars

J.F.

Amount Rs. 

2010

 

 

 

2010

 

 

 

Jul01

To Bank A/c

 

1,20,000

Dec 31

By Depreciation A/c

 

4,500

 

 

 

 

Dec 31

By Balance c/d

 

1,15,500

 

 

 

1,20,000

 

 

 

1,20,000

2011

 

 

 

2011

 

 

 

Jan 01

To Balance b/d

 

1,15,500

Dec 31

By Depreciation A/c

 

9,000

 

 

 

 

Dec 31

By Balance c/d

 

1,06,500

 

 

 

1,15,500

 

 

 

1,15,500

2012

 

 

 

2012

 

 

 

Jan 01

To Balance b/d

 

1,06,500

Dec 31

By Depreciation A/c

 

9,000

 

 

 

 

Dec 31

By Balance c/d

 

97,500

 

 

 

1,06,500

 

 

 

1,06,500

2013

 

 

 

 

 

 

 

Jan 01

To Balance b/d

 

97,500

 

 

 

 

 

 

Depreciation Account 

Dr.

 

 

 

 

 

 

Cr.

Date

Particulars

J.F.

Amount Rs. 

Date

Particulars

J.F.

Amount Rs. 

2010

 

 

 

2010

 

 

 

Dec 31

To Machinery A/c

 

4,500

Dec 31

By Profit and Loss A/c

 

4,500

 

 

 

4,500

 

 

 

4,500

2011

 

 

 

2011

 

 

 

Dec 31

To Machinery A/c

 

9,000

Dec 31

By Profit and Loss A/c

 

9,000

 

 

 

9,000

 

 

 

9,000

2012

 

 

 

2012

 

 

 

Dec 31

To Machinery A/c

 

9,000

Dec 31

By Profit and Loss A/c

 

9,000

 

 

 

9,000

 

 

 

9,000

 

Working Notes :

1. Calculation of annual depreciation

Depreciation p.a.

= Cost-Scrap Value/Estimated Life of Asset (Years)

 

= (1,08,000+12,000)-12,000/12 Years

 

=Rs.9,000 per annum

 

Solution NUM 3

 

 

Books of Reliance Ltd 

Machinery Account 

Dr.

 

 

 

 

 

 

Cr.

Date

Particulars

J.F.

Amount Rs. 

Date

Particulars

J.F.

Amount Rs. 

2011

 

 

 

2011

 

 

 

Oct 01

To Bank A/c

 

84,000

Dec 31

By Balance c/d

 

84,000

 

 

 

84,000

 

 

 

84,000

2012

 

 

 

2012

 

 

 

Jan 01

To Balance b/d

 

84,000

Dec 31

By Balance c/d

 

84,000

 

 

 

84,000

 

 

 

84,000

2013

 

 

 

2013

 

 

 

Jan 01

To Balance b/d

 

84,000

Dec 31

By Balance c/d

 

84,000

 

 

 

84,000

 

 

 

84,000

 

 

Provisions for Depreciation Account 

Dr.

 

 

 

 

 

 

Cr.

Date

Particulars

J.F.

Amount Rs. 

Date

Particulars

J.F.

Amount Rs. 

2011

 

 

 

2011

 

 

 

Dec 31

To Balance c/d

 

1,316

Dec 31

By Depreciation A/c

 

1,316

 

 

 

1,316

 

 

 

1,316

2012

 

 

 

2012

 

 

 

Dec 31

To Balance c/d

 

6,583

Jan 01

By Balance b/d

 

1,316

 

 

 

 

Dec 31

By Depreciation A/c

 

5,267

 

 

 

6,583

 

 

 

6,583

2013

 

 

 

2013

 

 

 

Dec 31

To Balance c/d

 

11,850

Jan 01

By Balance b/d

 

6,583

 

 

 

 

Dec 31

By Depreciation A/c

 

5,267

 

 

 

11,850

 

 

 

11,850

 

 

 

 

2013

 

 

 

 

 

 

 

Jan.01

By Balance b/d

 

11,850

 

Working notes:

Calculation of annual depreciation

Depreciation p.a.

=Cost-Scrap Value/Estimated Life of Asset (years)

 

=(56,000+28,000)-5,000/15

 

=Rs.5,267 per annum

 

 

Calculation of annual depreciation

Depreciation p.a.

=Cost-Scrap Value/Estimated Life of Asset (years)

 

=(56,000+28,000)-5,000/15

 

=Rs.5,267 per annum

 

 

Scrap Value

= Salvage Value- estimated cost to recover the salvage value

 

=Rs.6,000-Rs.1,000

 

=Rs.5,000

 

 

Accountancy Solution for Class 11 Commerce Accountancy Part I Chapter 7 - Depreciation, Provisions and Reserves Page/Excercise 274

Solution NUM 4

 

Books of Berlia Ltd.

Machinery Account (Original Cost Method) 

Dr.

 

 

 

 

 

 

 

Cr.

Date

Particulars

J.F.

Amount Rs. 

Date

Particulars

 

J.F.

Amount Rs. 

2011

 

 

 

2011

 

 

 

 

Jul 01

To Bank A/c 

 

85,000

Dec 31

By Depreciation A/c

 

 

 

 

(56,000 + 24,000 + 5,000)

 

 

 

Machine 1 (6m)

4,250

 

4,250

 

 

 

 

Dec 31

By Balance c/d

 

 

80,750

 

 

 

85,000

 

 

 

 

85,000

 

 

 

 

 

 

 

 

 

2012

 

 

 

2012

 

 

 

 

Jan 01

To Balance b/d

 

80,750

Dec 31

By Depreciation A/c

 

 

 

Sep 01

To Bank A/c

 

2,60,000

 

Machine 1

8,500

 

 

 

(2,50,000 + 10,000)

 

 

 

Machine 2 (4m)

8,667

 

17,167

 

 

 

 

Dec 31

By Balance c/d

 

 

3,23,583

 

 

 

3,40,750

 

 

 

 

3,40,750

2013

 

 

 

2013

 

 

 

 

Jan 01

To Balance b/d

 

3,23,583

Dec 31

By Depreciation A/c

 

 

 

 

 

 

 

 

Machine 1

8,500

 

 

 

 

 

 

 

Machine 2

26,000

 

34,500

 

 

 

 

Dec 31

By Balance c/d

 

 

2,89,083

 

 

 

3,23,583

 

 

 

 

3,23,583

2014

 

 

 

2014

 

 

 

 

Jan 01

To Balance b/d

 

2,89,083

Dec 31

By Depreciation A/c

 

 

 

 

 

 

 

 

Machine 1

8,500

 

 

 

 

 

 

 

Machine 2

26,000

 

34,500

 

 

 

 

Dec 31

By Balance c/d

 

 

2,54,583

 

 

 

2,89,083

 

 

 

 

2,89,083

 

 

Depreciation Account 

Dr.

 

 

 

 

 

 

 Cr.

Date

Particulars

J.F.

Amount Rs. 

Date

Particulars

J.F.

Amount Rs. 

2011

 

 

 

2011

 

 

 

Dec 31

To Machinery A/c

 

4,250

Dec 31

By Profit and Loss A/c

 

4,250

 

 

 

4,250

 

 

 

4,250

2012

 

 

 

2012

 

 

 

Dec 31

To Machinery A/c

 

17,167

Dec 31

By Profit and Loss A/c

 

17,167

 

 

 

17,167

 

 

 

17,167

2013

 

 

 

2013

 

 

 

Dec 31

To Machinery A/c

 

34,500

Dec 31

By Profit and Loss A/c

 

34,500

 

 

 

34,500

 

 

 

34,500

2014

 

 

 

2014

 

 

 

Dec 31

To Machinery A/c

 

34,500

Dec 31

By Profit and Loss A/c

 

34,500

 

 

 

34,500

 

 

 

34,500

 

Working Notes :

Calculation of Annual Depreciation

 

1.

Depreciation (p.a.) on Machinery Purchased on July 01,2011 

 

Depreciation p.a.=Cost-Scrap Value/Estimated Life of Asset (years) 

 

-=(56,000+24,000+5,000)*10%

 

=Rs.8,500 per annum

2.

Depreciation on Machinery purchased on July 01, 2011 for the year 2011 (6 month)

 

=Rs.8,500p.a. *6/12

 

=Rs.4,250

3.

Depreciation (p.a.) Machinery purchased on September 01,2012

 

Depreciation p.a.=Cost-Scrap Value/Estimated Life of Asset (years)

 

=(2,50,000+10,000)*10%

 

=Rs.26,000 per annum

4.

Depreciation on Machinery purchased on September 01,2012 for the year 2012 (4 month)

 

=Rs.26,000*4/12

 

=Rs.8667

 

 

 

 

Books of Berlia Ltd. 

Machinery Account (Written Down value method) 

Dr.

 

 

 

 

 

 

 

Cr.

Date

Particulars

J.F.

Amount Rs. 

Date

Particulars

 

J.F.

Amount Rs. 

2011

 

 

 

2011

 

 

 

 

Jul 01

To Bank A/c 

 

85,000

Dec 31

By Depreciation A/c

 

 

4,250

 

(56,000 + 24,000 + 5,000)

 

 

Dec 31

By Balance c/d

 

 

80,750

 

 

 

85,000

 

 

 

 

85,000

2012

 

 

 

2012

 

 

 

 

Jan 01

To Balance b/d

 

80,750

Dec 31

By Depreciation A/c