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Question No 11 Chapter No 14 – USHA Publication 11 Class

Question No 11 Chapter No 14
Q-11 - CH-14 - USHA +1 Book 2020 - Solution

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Question No 11 Chapter No 14

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Provision for Taxation

11. The opening balance in provision for taxation account was Rs 3,00,000 on 1.4.2018. the business enterprise earned a net profit of Rs 12,00,000 during the year 2018-19.
Prepare the necessary accounts for the year 2018-19 when rate of taxation was 30%

The solution of Question No 11 Chapter No 14: –

Dr.Provision for Doubtful Debts A/cCr.
DatParticulars
J.F.AmountDateParticulars
J.F.Amount
    01/04/18By Balance b/d 3,00,000
    31/03/19By Profit/Loss A/c 60,000
31/03/18By Balance C/d 3,60,000    
   3,60,000   3,60,000

 

Dr.Income Tax payable A/cCr.
DatParticulars
J.F.AmountDateParticulars
J.F.Amount
    31/03/19By Provision for Taxation A/c 3,60,000
        
31/03/19By Bank A/c 3,60,000    
   3,60,000   3,60,000

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

Usha Publication – Elements of Book-Keeping PSEB (Class 11) – Solution

Chapter No. 1 – Introduction

Chapter No. 2 – Theory Base of Accounting 

Chapter No. 3 – Origin of Transactions

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Chapter No. 4 – Vouchers and transactions

Chapter No. 5 – Journal

Chapter No. 6 – Accounting for Goods and Services Tax(GST)

Chapter No. 7 – Ledger

Chapter No. 8 – Cash Book

Chapter No. 9 – Other Subsidiary Books

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Chapter No. 10 – Journal Proper

Chapter No. 11 – Trial Balance

Chapter No. 12 – Bank Reconciliation Statement

Chapter No. 13 – Depreciation

Chapter No. 14 – Provisions and Reserves 

Chapter No. 15 – Bills of Exchange

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Chapter No. 16 – Rectification of Errors 

Chapter No. 17 – Financial Statements – (Without Adjustments)

Chapter No. 18 – Financial Statements – (With Adjustments)

 

 

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