Question No 2 Chapter No 12 - Unimax 11 Class

Question No 2 Chapter No 12 - Unimax Class 11

An extract of the trial balance from the books of Tahiliani and sons enterprise on December 31, 2019, is given below:

Name of the account	Dr. Amount	Cr. Amount
Sundry debtors	50,000
Bad debts	6,000
Provision for doubtful debts		4,000

Addition information-
*Bad debts proved bad but not recorded amounted to ₹ 2,000.

*Provision is to be maintained at 8% of debtors.

Give necessary accounting entries for writing off the bad debts and crediting the provision for doubtful debts account. Also show the necessary accounts.

The solution of Question No 2 Chapter No 12 - Unimax Class 11

Journal

Date	Particulars		L.F.	Debit	Credit
2019
Dec.31	Bad debts A/c	Dr.		2,000
	To debtors A/c				2,000
	(Being further bad debts written off)
Dec.31	Provision for doubtful debts A/c	Dr.		8,000
	To Bad debts A/c				8,000
	(Being total bad debts transferred to provision a/c)
Dec.31	Profit & Loss A/c	Dr.		7,840
	To Provision for doubtful debts A/c				7,840
	(Being net amount charged from P&L A/c)

 

Dr	Bad debts A/c			Cr
Date	Particulars	J.F.	Amount	Date	Particulars	J.F.	Amount
2019				2019
Dec.31	To Balance b/d		6,000	Dec.31	By provision for doubtful debts A/c		8,000
Dec.31	To Sundry Debtors A/c		2,000
			8,000				8,000
Dr	Provision for doubtful debts A/c			Cr
Date	Particulars	J.F.	Amount	Date	Particulars	J.F.	Amount
2019				2019
Dec.31	To Bad debts A/c		8,000	Jan.1	By Balance b/d		4,000
Dec.31	To Balance c/d		3,840	Dec.31	By profit & loss A/c		7,840
			11,840				11,840
				2020
				Jan.1	By Balance b/d		3,840

 

Dr	Profit & Loss A/c		Cr
Particulars	Amount	Particulars	Amount
To Provision for doubtful debts A/c	7,840

Working Note:

Net amount chargeable to P & L a/c
Bad debts	6,000
Add: further bad debts	2,000
	8,000
Add: New provision (8%on ₹ 48,000)	3,840
	11,840
Less: old provision	4,000
	7,840

It is all about Question No 2 Chapter 12 of Class 11 unimax, If you have any problem please comment below.

Read out the full article to know the meaning of Depreciation

Provisions and Reserves | Meaning | Methods | Examples

https://tutorstips.com/provision-and-reserve/

Also, Check out the same article in Hindi from the following link

Depreciation | Meaning | Methods | Examples-in Hindi

Also, Check out the solved question of all Chapters: –

Advanced Accountancy – Unimax Class 11 – 2021 – Solution.

Part-I

• Chapter No. 1 - Introduction of Accounting
• Chapter No. 2 - Theory Base of Accounting
• Chapter No. 3 - Vouchers and Transactions
• Chapter No. 4 - Journal
• Chapter No. 5 - Goods and Services Tax (GST): An Introduction
• Chapter No. 6 - Ledger
• Chapter No. 7 - Special Purpose Book -  Cash Book
• Chapter No. 8 - Other Subsidiary Books 
• Chapter No. 9 - Trial Balance 
• Chapter No. 10 - Rectification of Errors
• Chapter No. 11 - Depreciation
• Chapter No. 12 - Provision and Reserves
• Chapter No. 13 - Bank Reconciliation Statement
• Chapter No. 14 - Bills of Exchange 

Students may choose only one part from Part II and Part III

Part-II

• Chapter No. 15 - Financial Statements (Without Adjustments)
• Chapter No. 16 - Financial Statements (With Adjustments)
• Chapter No. 17 - Accounts from Incomplete Records -  Single Entry System

Part-III

• Chapter No. 18 - Introduction to Computers and Accounting information System
• Chapter No. 19 - Computerised Accounting
• Chapter No. 20 - Accounting Software: Tally 
• Chapter No. 21 - Data Base System
• Chapter No. 22 - Concept of Entity and Relationship
• Chapter No. 18 - Introduction to Computers and Accounting information System
• Chapter No. 19 - Computerised Accounting
• Chapter No. 20 - Accounting Software: Tally 
• Chapter No. 21 - Data Base System
• Chapter No. 22 - Concept of Entity and Relationship