Question No 2 Chapter No 12 - Unimax 11 Class

Question No 2 Chapter No 12 – Unimax Class 11

Table of Contents

The solution of Question No 2 Chapter No 12 – Unimax Class 11

Advanced Accountancy – Unimax Class 11 – 2021 – Solution.

An extract of the trial balance from the books of Tahiliani and sons enterprise on December 31, 2019, is given below:

Name of the account	Dr. Amount	Cr. Amount
Sundry debtors	50,000
Bad debts	6,000
Provision for doubtful debts		4,000

Addition information-
*Bad debts proved bad but not recorded amounted to ₹ 2,000.

*Provision is to be maintained at 8% of debtors.

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Give necessary accounting entries for writing off the bad debts and crediting the provision for doubtful debts account. Also show the necessary accounts.

The solution of Question No 2 Chapter No 12 – Unimax Class 11

Journal
Date	Particulars		L.F.	Debit	Credit
2019
Dec.31	Bad debts A/c	Dr.		2,000
	To debtors A/c				2,000
	(Being further bad debts written off)

Dec.31	Provision for doubtful debts A/c	Dr.		8,000
	To Bad debts A/c				8,000
	(Being total bad debts transferred to provision a/c)

Dec.31	Profit & Loss A/c	Dr.		7,840
	To Provision for doubtful debts A/c				7,840
	(Being net amount charged from P&L A/c)

Dr		Bad debts A/c					Cr
Date	Particulars	J.F.	Amount	Date	Particulars	J.F.	Amount
2019				2019
Dec.31	To Balance b/d		6,000	Dec.31	By provision for doubtful debts A/c		8,000
Dec.31	To Sundry Debtors A/c		2,000

			8,000				8,000
Dr		Provision for doubtful debts A/c					Cr
Date	Particulars	J.F.	Amount	Date	Particulars	J.F.	Amount
2019				2019
Dec.31	To Bad debts A/c		8,000	Jan.1	By Balance b/d		4,000
Dec.31	To Balance c/d		3,840	Dec.31	By profit & loss A/c		7,840

			11,840				11,840
				2020
				Jan.1	By Balance b/d		3,840

Dr	Profit & Loss A/c		Cr
Particulars	Amount	Particulars	Amount
To Provision for doubtful debts A/c	7,840

Working Note:

Net amount chargeable to P & L a/c
Bad debts	6,000
Add: further bad debts	2,000
	8,000
Add: New provision (8%on ₹ 48,000)	3,840
	11,840
Less: old provision	4,000
	7,840

It is all about Question No 2 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

Also, Check out the same article in Hindi from the following link

Depreciation | Meaning | Methods | Examples-in Hindi

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

Advanced Accountancy – Unimax Class 11 – 2021 – Solution.

Part-I

Students may choose only one part from Part II and Part III

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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
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

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Question No 2 Chapter No 12 – Unimax 11 Class

The solution of Question No 2 Chapter No 12 – Unimax Class 11

Working Note:

Advanced Accountancy – Unimax Class 11 – 2021 – Solution.

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