Question No 23 Chapter No 18 – USHA Publication 11 Class

Question No 23 Chapter No 18

Question No 23 Chapter No 18

Bad bets and Provision

23. On 1st April 2016 M/s Gopi Krishna had the provision of bad debt of Rs 6,500. on 31st March 2017, the total amounted to Rs 1,84,000 out of which Rs 4,000 were bad and had to be written off. The firm wants to maintain the provision of a bad debt at 5% of the debtors
On 31st March 2018, the total debtors amounted to Rs 1,03,200 out of which Rs 3,200 had to be written off as bad debts. The provision for bad debts is t be maintained at 5% of the debtors.
Show the bad debts account and Provision for bad debts Account for 2016-17 and 2017-18

 

The solution of Question No 23 Chapter No 18:-

 

  Provision for bad debts A/c
Date Particular
Amount Date Particular
Amount
2017       2016      
Mar. 31 To bad debts A/c   2,800 Apr. 1 By Provision for debts   4,000
Mar. 31 To S. debtors A/c   4,000        
      4,000       4,000
2018       2017      
        Apr. 1 By Provision for debts   3,200
Mar. 31 To S. debtors A/c   3,200 2017      
      3,200       3,200

 

  Provision for bad debts A/c
Date Particular
Amount Date Particular
Amount
2017       2016      
Mar. 31 To bad debts A/c   4,000 Apr. 1 By Balance b/d   6,500
Mar. 31 To Balance c/d   9,000 2017      
        Mar. 31 By P & L A/c   6,500
      13,000       13,000
2018       2017      
Mar. 31 To bad debts A/c   3,200 Apr. 1 By Balance b/d   9,000
Mar. 31 To S. debtors A/c   5,000        
Mar. 31 To P & L A/c   800        
      9,000       9,000

 

 

Final Accounts: Definition and Explanation

 

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. 1 – Introduction

Chapter No. 2 – Theory Base of Accounting 

Chapter No. 3 – Origin of Transactions

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

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

Chapter No. 16 – Rectification of Errors 

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

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

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