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Question No 3 Chapter No 12 - Unimax Class 11
The following information is extracted from the Trial Balance of M/s. Nisha Trader on 31st Dec. 2019:
| ₹ | |
| Sundry debtors | 80,500 |
| Provision for Bad Debts | 5,000 |
| Bad debts | 1,000 |
| Additional information; | |
| Bad debts | 500 |
Provision for Bad debts is to be maintained at 2% on debtors.
Prepare bad debts account, provision for Bad debts account, and profit and loss account.
| Dr | Profit & Loss A/c |
Cr | |
| Particulars | Amount | Particulars | Amount |
|---|---|---|---|
| To Provision for doubtful debts A/c | 1,900 | ||
| Dr | Bad debts A/c | Cr | |||||
| Date | Particulars | J.F. | Amount | Date | Particulars | J.F. | Amount |
|---|---|---|---|---|---|---|---|
| 2019 | 2019 | ||||||
| Dec.31 | To Balance b/d | 1,000 | Dec.31 | By provision for doubtful debts A/c | 1,500 | ||
| Dec.31 | To Sundry Debtors A/c | 500 | |||||
| 1,500 | 1,500 | ||||||
| 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 | 1,500 | Jan.1 | By Balance b/d | 5,000 | ||
| Dec.31 | To P&L A/c | 1,900 | |||||
| Dec.31 | To Balance c/d | 1,600 | |||||
| 5,000 | 5,000 | ||||||
| 2020 | |||||||
| Jan.1 | By Balance b/d | 1,600 | |||||
| Net amount chargeable to P & L a/c | |
| Old provision | 5,000 |
| Less: Bad debts | 1,000 |
| Less: further bad debts | 500 |
| 3,500 | |
| Less: new provision | 1,600 |
| 1,900(Cr) |
It is all about Question No 3 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: –
Part-I
Students may choose only one part from Part II and Part III
Part-II
Part-III
Accounting & Commerce Educator
Sarbjit Singh holds a B.Com and M.Com degree and has over 12 years of teaching experience in double entry bookkeeping, financial accounting, and business studies.
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