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Question no 17 Chapter No 16 – Unimax Class 11

Question No 17 Chapter No 16 - UNIMAX Class 11
Question No 17 Chapter No 16 - UNIMAX Class 11

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Question No 17 Chapter No 16 – Unimax Class 11

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From the following, pass journal entry and show the presentation of provision for doubtful debts in final accounts. 

Extracts of Trial Balance as at 31.3.2020 
ParticularsDebitCredit
Bad debts5,000 
Provision for doubtful debts 1.4.2019 6,000
Sundry debtors1,80,000 

Adjustment: provision for doubtful debts is to created @ 5% on sundry debtors.

The solution of Question No 17 Chapter No 16 – UNIMAX Class 11

Journal
DateParticulars
L.F.DebitCredit
31.3.2020Provision for doubtful debts A/cDr. 5,000 
 To Bad debts A/c   5,000
 (Being bad debts written off)    
31.3.2020Profit & Loss A/cDr. 8,000 
 To Provision for doubtful debts A/c   8,000
 (Being provision doubtful debts is created with the amount of difference)     

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

ParticularsAmountParticularsAmount
To bad debts5,000    
Add: New provision9,000   
 14,000   
Less: Old provision6,0008,000   
          Balance Sheet
         As at 31st March, 2020 
  
Liabilities AmountAssets
Amount
   Sundry debtors1,80,000 
   Less: New Provision9,0001,71,000

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Final Accounts: Meaning, Definition and Explanation

 

Profit and Loss Account: Meaning, Format & Examples

 

Balance Sheet: Meaning, Format & Examples

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

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Advanced Accountancy – Unimax Class 11 – 2021 – Solution.

Part-I

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 Computers 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 

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)

Check out T.S. Grewal +1 Book 2019 @ Oficial Website of Sultan Chand Publication

 

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