Question 18 Chapter 4 – Unimax Publications of Class 11

Q18 - CH-4 Solution

Question 18 Chapter 4 – Unimax

Free Accounting book Solution - Class 11 and Class 12

18. Enter the following transactions in books of Lovekesh.
2021
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
from him.
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

Date Particulars L.F. Debit Credit
2021          
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)      

This is all about the Question 18 Chapter 4 – Unimax. You can check out the following article to better understand:

Opening Journal Entry – its Rules and Examples 

You Can also read all above articles in Hindi on our Hindi Website

Opening Journal Entry – its Rules and Examples – In Hindi

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You can also Check out the solved question of other 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 Reconlciliation Statement
  • Chapter No. 14 – Bills of Exchange

Students may Choose only one part from the 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 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

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