Question No 1 Chapter No 12 - Unimax 11 Class

Question No 1 Chapter No 12 – Unimax Class 11

Table of Contents

1. The following are the extracts of the trial balance as on 31st March 2020.

Sundry debtors

42,000

Addition information-
(1) Book debts proved bad but not recorded amounted to ₹ 2,000.

(2) Provision for doubtful debts is to be created at 10% on sundry debtors.

Pass Journal entries and show them in the profit and loss account and balance sheet of the company.

The solution of Question No 1 Chapter No 12 – Unimax Class 11

Journal
Date	Particulars		L.F.	Debit	Credit
2020
Mar.31	Bad debts A/c	Dr.		2,000
	To Sundry debtors A/c				2,000
	(Being bad debts written off)

Mar.31	Profit & Loss A/c	Dr.		2,000
	To Bad debts A/c				2,000
	(Being bad debts transferred to P & L a/c)

Mar.31	Profit & Loss A/c	Dr.		4,000
	To Provision for doubtful debts A/c				4,000
	(Being creating provision for doubtful debts)

Profit & Loss A/c
For the year ended 31st March 2020

Balance sheet
as on 31st March 2020

Particulars	Amount	Particulars		Amount
		Sundry Debtors	42,000
		Less: Bad debts	2,000
			40,000
		Less: Provision for Doubtful Debts	4,000	36,000

It is all about Question No 1 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

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Provision and Reserve: Differences with example

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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