CBSE Class 11th Accountancy Worksheet - w15a

Free Accountancy - Class 11th (CBSE) - Worksheet - w15a - Depreciation

Q1. On 1st April, 2020, Ashoka Ltd. purchased Machinery costing ₹5,00,000 via bank. On July 1, 2023, the Machinery was sold for ₹2,00,000.

Prepare Machinery account calculating depreciation @ 10% p.a. on Original Cost Method.
Accounts are closed on 31st March each year.

Q2. Birla Cotton Mills purchased machinery on 1st August 2020 for ₹90,000.

On 1st October 2021, it purchased another machine for ₹40,000.

On 30th June 2022, it sold off the first machine purchased in 2020 for ₹58,000 and on the same date purchased new machinery for ₹1,00,000.

Depreciation is provided at 20% p.a. on the original cost each year.

Accounts are closed each year on 31st March.

Show the Machinery Account for three years.

Q3. (Calculation of Gain (Profit)/Loss on Sale of Asset).

Vijay Ltd. purchased a second-hand machine for ₹5,50,000 and spent ₹50,000 on repairs. Depreciation is to be provided @ 10% p.a. by the Straight Line Method. The machine is sold for ₹4,40,000. The accounting year is the financial year.

Calculate gain (profit) or loss on sale of the machine in each of the following alternative cases:

• Case 1: If the date of purchase is 1st April, 2021, and the date of sale is 31st March, 2024.
• Case 2: If the date of purchase is 1st April, 2021, and the date of sale is 30th September, 2023.
• Case 3: If the date of purchase is 1st July, 2021, and the date of sale is 31st March, 2024.
• Case 4: If the date of purchase is 1st July, 2021, and the date of sale is 30th September, 2023.

Q4. Shivam Mills purchased machinery costing ₹3,00,000 on 1st April, 2021. It purchased more machinery on 1st January, 2023, for ₹2,00,000. 

On 1st April, 2023, one third of the machinery that was installed on 1st April, 2021, became obsolete and was sold for ₹70,000. 

Depreciation is charged at 10% p.a. on original cost.

Prepare Machinery Account for the first three years ending on 31st March, 2024. Also show the balance of the Machinery Account on 1st April, 2024.

Q5. On 1st October, 2021, Niharika Rice Mills purchased a second-hand machine for ₹1,80,000 and spent ₹20,000 on its repair and installation. 30th September, 2024, the machinery was discarded and sold for ₹1,40,000, and an amount of ₹4,000 was paid as dismantling charges. The books are closed on 31st March every year, and depreciation is charged @10% p.a. on the written down value. Prepare Machinery Account from the date of purchase of machinery till the date of sale of machinery.

Q6. Calculate annual depreciation and rate of depreciation under the Straight Line Method in each of the alternative cases:

Case	Purchase Price of Machinery (₹)	Installation Charges (₹)	Estimated Scrap Value (₹)	Estimated Useful Life (in Years)
(a)	1,80,000	20,000	10,000	5
(b)	4,75,000	25,000	50,000	5
(c)	90,000	10,000	20,000	10
(d)	3,40,000	60,000	40,000	10
(e)	90,000	10,000	20,000	4

Q7. Calculate the amount of Annual Depreciation and Rate of Depreciation under the Straight Line Method (SLM) from the following:​

Purchased a second-hand machine for ₹96,000, spent ₹24,000 on its cartage, repairs, and installation. The estimated useful life of the machine is 4 years.​ Estimated residual value is ₹72,000.

Q8. On 1st July, 2023, Raja Ltd. purchased a second-hand machine for ₹5,00,000 and spent ₹1,00,000 on its cartage, repairs, and installation.​

Calculate the amount of depreciation @ 10% p.a. according to the Straight Line Method for the year ending on 31st March, 2024.

Q9. A boiler was purchased from abroad for ₹10,000.​ Shipping and forwarding charges ₹2,000.​ Import duty ₹7,000 and expenses of installation amounted to ₹1,000.​

Calculate the depreciation for the first three years (separately for each year) @ 10% p.a. on the Diminishing Balance Method.

Q10. Gurman & Co. purchased machinery for ₹40,000 on 1st October, 2021.​ Depreciation is provided @ 10% p.a. on the Diminishing Balance.​

On 31st January, 2024, one-fourth of the machinery was found unsuitable and disposed off for ₹5,600.​ On the same date, new machinery at a cost of ₹15,000 was purchased.​

Write up the Machinery Account for the years ended 31st March, 2022, 2023, and 2024.​ Accounts are closed on 31st March each year.

The End

CBSE Class 11th Accountancy Worksheet - w8b

Free Accountancy - Class 11th (CBSE) - Worksheet - w8b - Journal

Welcome back to Business Profits and Lab, where you will find endless possibilities to secure high marks in your 11th-class Accountancy (CBSE) exams.

You can practice how to pass a journal entry for the following scenarios:

• Pinpointing which accounts are affected in a transaction.
• Deciding how to debit or credit each account using the modern rules of accounting.
• Handling trade discounts, cash discounts, and rebates in transactions.
• Posting entries that involve advanced income, capital introduction, and owner’s drawings.
• Accounting for bad debts, partial recoveries from insolvent debtors, and subsequent bad-debt recoveries.
• Distinguishing between revenue and capital expenditure (e.g., installation cost vs. routine repair).
• Passing adjustment entries for accrued expenses, such as outstanding salaries.
• Making compound journal entries whenever a single transaction affects more than two accounts.

Let's begin the worksheet:

CBSE Worksheet for Class 11th CBSE - Journal

Q1. Pass the Journal Entries: -

• April 10 – Kamal Started Business with Cash Rs. 5,00,000
• April 11 - Purchased stationary for Cash Rs. 10,000
• April 12- Opened Bank Account with cheque from Savings Account Rs. 50,000
• April 13 – Paid for Repairs of Office Rs. 8,999
• April 13 – Cash Deposited into Bank Rs. 9,451
• April 14 – Received order from Dheeraj of Rs. 1,00,000 along with Advance.
• April 15 - Sold Goods to Shilpa of List price Rs. 50,000 Less 10% Trade Discount.
• April 15 – Sold Goods to Shruti for cash, of List price Rs. 50,000 and cash discount of 10%.
• April 16 – Allowed Rebate to Shilpa for accepting damaged goods Rs. 2,000.
• April 17 – Received Commission of Rs. 1,00,000 by Cheque, Half of which is in advance.

Q2. Pass the Journal Entries: -

• July 10 – Rs. 5,00,000 due from Shaurya is Not Recoverable.
• July 11 – Anas is declared Insolvent. Received 60% of Rs. 10,000.
• July 12- Received cash for the bad debt written off last year Rs. 50,000
• July 13 – Chetan a debtor for Rs. 10,000 became insolvent. Received 60 Paise in a rupee as a final dividend from his receiver. Payment was received partly in form of machinery Rs, 3000 and Balance in Cash.
• July 13 – Paid Life Insurance Premium of owner by bank of Rs. 9,000
• July 14 – Amount of Rs. 7,000 transferred to Fixed Deposit Account
• July 15 – Sold Household Furniture for Rs. 5,000 and proceeds invested into business.
• July 15 – Purchased Machinery for Rs. 10,000 and paid Installation charges of Rupees 1,000
• July 16 – Salaries Payable to Staff Rs. 25,000
• July 17 – Goods costing Rs. 10,000 given as samples.

The End

CBSE Class 11th Accountancy Worksheets - w8a

 Free Accountancy - Class 11th (CBSE) - Worksheet - w8a - Journal

Gone are those days when you needed to download Class 11th worksheets for the Accountancy subject.

But what is the reason here?

We are providing the free worksheets where there is no need to download any PDF or Word file; just scroll through our page.

On this page, you can master every journal through the MCQs and practical problems like:

• Cash purchases
• Credit purchases
• Purchase return
• Cash sales
• Credit sales
• Sales return
• Discount allowed and discount received
• Trade discount
• Opening journal entry
• Depreciation
• Outstanding expenses
• Prepaid expenses
• Interest on drawings
• Interest on capital

Let's start the worksheet.

Class 11th - Accountancy (CBSE) MCQs  

Q1. When the number of accounts to be debited or credited is more than one, entry made for recording the transaction is called _______ Journal Entry.

1. Single
2. Compound
3. Normal
4. Complex

Q2. Journal is a book of :

1. Original Entry 
2. Final Entry 
3. Cash entry 
4. Single Entry

Q3. Computer Purchased for office is debited to:

1. Office expenses Account
2. Office Equipment Account
3. Purchases Account
4. Stock Account

Q4. Rent paid to Landlord should be debited to:

1. Rent Account
2. Drawing Account
3. Landlord Account
4. Income Account

Q5. Pass journal entries for the following transactions:

Q6. Journalise the following entries:

Q7. You are required to journalise the following transactions:

• Balances in the books of Rahul, a computer dealer on 1st April, 2017.
• Cash ₹500; Bank Overdraft ₹1,000; Debtors ₹7,000; Building ₹6,500.
• Computers ₹3,500. 
• On the same day, he sold a computer, the book value of which was ₹2,000 for ₹1,950.

Q8. Pass Journal Entries for the following:

• Received ₹50,000 from Yogesh, which were written off as bad debts in the previous year. 
• Salaries due to clerks ₹2,40,000. 
• Out of the rent paid this year, ₹30,000 is related to next year. 
• Provide 10% depreciation on furniture costing ₹80,000. 
• Provide 6% interest on capital amounting to ₹10,00,000. 
• Charge interest on drawings ₹5,000.

The End

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