Question No 20 Chapter No 18
Bad bets and Provision
20. The following balances have been taken from the trial balance of Jagir Kaur as on 31st March 2018
| Ledger Account | (Dr. Rs) | (Cr. Rs) |
| Sundry Debtors | 26,000 | – |
| Bad debts | 3,500 | – |
Adjustments
Write off further bad debts Rs 2,000 give the adjusting entry and show how it will be treated in financial statements.
The solution of Question No 20 Chapter No 18:-
| Adjustment entries | |||||
| Date | Particulars |
L.F. | Debit | Credit | |
| Mar.31 | Bad debts A/c | Dr. | 2,000 | ||
| To Debtors A/c | 2,000 | ||||
| (Being bad debts written off.) | |||||
| Profit & loss Account |
|||||
| Particular |
Amount | Particular |
Amount | ||
| To Bad debts A/c | 3,500 | ||||
| Add: further bad debts. | 2,000 | 5,500 | |||
| – | – | ||||
| Balance Sheet | |||||
| Labilities |
Amount | Assets |
Amount | ||
| Debtors. A/c | 26,000 | ||||
| Less: further bad debts | 2,000 | 24,000 | |||
| – | – | ||||
Final Accounts: Definition and Explanation
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Profit and Loss Account: Meaning, Format & Examples
Balance Sheet: Meaning, Format & Examples
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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. 2 – Theory Base of Accounting
Chapter No. 3 – Origin of Transactions
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Chapter No. 4 – Vouchers and transactions
Chapter No. 6 – Accounting for Goods and Services Tax(GST)
Chapter No. 9 – Other Subsidiary Books
Chapter No. 10 – Journal Proper
Chapter No. 11 – Trial Balance
Chapter No. 12 – Bank Reconciliation Statement
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Chapter No. 14 – Provisions and Reserves
Chapter No. 15 – Bills of Exchange
Chapter No. 16 – Rectification of Errors
Chapter No. 17 – Financial Statements – (Without Adjustments)