Question 18 Chapter 4 – Unimax
18. Enter the following transactions in books of Lovekesh.
May 1 Received first instalment of Rs. 40,000 from Ravi who is declared insolvent.
May 3 Sunil who owed Rs. 50,000 is declared insolvent first instalment of 30%, recovered
May 4 Second dividend of 20% could be recovered from Sunil.
May 9 Recovered Rs. 18,000 from Neha whose account as 25,000 was written off as bad
in Last Year.
May 15 Third and Final dividend of 30% could be recovered from Sunil.
May 20 Recovered Rs. 49,000 from Anup on his insolvency, being 70% of the amount due.
May 25 Recovered Rs. 81,000 from Sita her insolvency, being 90% of the amount due.
The solution of Question 18 Chapter 4 – Unimax:
JOURNAL OF LOVEKESH
|May 1||Cash A/c||Dr.||40,000|
|To Ravi A/c||40,000|
|(Being first installment received from Ravi)|
|May 3||Cash A/c||Dr.||15,000|
|To Sunil A/c||15,000|
|(Being first installment of 30% recovered from Sunil)|
|May 4||Cash A/c||Dr.||10,000|
|To Sunil A/c||10,000|
|(Being second installment of 20% recovered from Sunil)|
|May 9||Cash A/c||Dr.||18,000|
|To Bad debt recovered A/c||18,000|
|(Being bad debts recovered)|
|May 15||Cash A/c||Dr.||15,000|
|Bad debts A/c||Dr.||10,000|
|To Sunil A/c||25,000|
|(Being final installment of 30% received from Sunil)|
|May 20||Cash A/c||Dr.||49,000|
|Bad debts A/c||Dr.||21,000|
|To Anup A/c||70,000|
|(Being cash received from Anup)|
|May 25||Cash A/c||Dr.||81,000|
|Bad debts A/c||Dr.||9,000|
|To Sita A/c||90,000|
|(Being cash received from Sita)|
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You can also Check out the solved question of other Chapters: –
Advanced Accountancy – Unimax Class 11 – 2021 – Solution.
- 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 Reconlciliation Statement
- Chapter No. 14 – Bills of Exchange
Students may Choose only one part from the Part II and Part III
- Chapter No. 15 – Financial Statements (Without Adjustments)
- Chapter No. 16 – Financial Statements (With Adjustments)
- Chapter No. 17 – Accounts from Incomplete Records – Single Entry System
- Chapter No. 18 – Introduction to Compurters 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
You can also Check out the other Books’ Solution: –
- Usha Publication – Elements of Book-Keeping PSEB (Class 11) – Solution
- T.S. Grewal’s Double Entry Book Keeping (Class +1) – Solution
- D K Goel – New ISC Accountancy -(Class 11 – ICSE)- Solution