Question No 04 Chapter No 14 – USHA Publication 11 Class

Question No 04 Chapter No 14

Question No 04 Chapter No 14

Provision for Doubtful debit and for discount on Debtors

4. On 1st April 2015 credit balance of provision for doubtful debts account was Rs 2,700. During the years 2015-16 bad debts amounted for doubtful debts account was Rs 2,100. on 31st March 2016 debtors were Rs 1,26,000 provision @5% is created for doubtful debts on this amount.
In 2016-17 bad debts amounted to Rs 2,160. on 31st March 2017 debtors were Rs 75,000. provision 5% for doubtful debts is created on this amount. In 2017-18 bad debts amounted to Rs 3,000. on the last day of this year, debtors were Rs 30,000 and a provision of 5% is created for doubtful debts one this amount.
Prepare Provision for Doubtful debts account for three years period.

The solution of Question No 04 Chapter No 14: –

Dr. Provision for Doubtful Debts A/c Cr.
Dat Particulars
J.F. Amount Date Particulars
J.F. Amount
31/03/17 To Bank A/c(repairs)   2,100 1/04/16 By Balance b/d   2,700
31/03/17 By Balance C/d   6,300 31/03/17 By Profit/Loss A/c   5,700
      8,400       8,400
31/03/18 To Bad debts A/c   2,160 01/04/17 By Balance b/d   6,300
31/03/18 To Profit/Loss A/c   390        
31/03/18 By Balance C/d   3,750        
      6,300       6,300
31/03/19 To Bad debts A/c   3,000 01/04/18 By Balance b/d   3,750
31/03/19 By Balance C/d   1,500
31/03/19 By Profit/Loss A/c   750
      4,500       4,500


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

Chapter No. 1 – Introduction

Chapter No. 2 – Theory Base of Accounting 

Chapter No. 3 – Vouchers and transactions

Chapter No. 4 – Journal

Chapter No. 5 – Ledger

Chapter No. 6 – Cash Book

Chapter No. 7 – Other Subsidiary Books

Chapter No. 8 – Journal Proper

Chapter No. 9 – Trial Balance 

Chapter No. 10 – Bank Reconciliation Statement

Chapter No. 11 – Depreciation

Chapter No. 12 – Provisions and Reserves 

Chapter No. 13 – Bills of Exchange

Chapter No. 14 – Rectification of Errors 

Chapter No. 15 – Financial Statements – (Without Adjustments)

Chapter No. 16 – Financial Statements – (With Adjustments)

 

 

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