Question No 3 Chapter No 12 - Unimax 11 Class

Question No 3 Chapter No 12 – Unimax Class 11

Table of Contents

The following information is extracted from the Trial Balance of M/s. Nisha Trader on 31st Dec. 2019:

Provision for Bad debts is to be maintained at 2% on debtors.

Prepare bad debts account, provision for Bad debts account, and profit and loss account.

The solution of Question No 3 Chapter No 12 – Unimax Class 11:

Dr	Profit & Loss A/c		Cr
Particulars	Amount	Particulars	Amount
		To Provision for doubtful debts A/c	1,900

Dr		Bad debts A/c					Cr
Date	Particulars	J.F.	Amount	Date	Particulars	J.F.	Amount
2019				2019
Dec.31	To Balance b/d		1,000	Dec.31	By provision for doubtful debts A/c		1,500
Dec.31	To Sundry Debtors A/c		500

			1,500				1,500
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		1,500	Jan.1	By Balance b/d		5,000
Dec.31	To P&L A/c		1,900
Dec.31	To Balance c/d		1,600

			5,000				5,000
				2020
				Jan.1	By Balance b/d		1,600

Net amount chargeable to P & L a/c
Old provision	5,000
Less: Bad debts	1,000
Less: further bad debts	500
	3,500
Less: new provision	1,600
	1,900(Cr)

It is all about Question No 3 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

Provision and Reserve: Differences with example

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

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

Part-I

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

Part-II

Part-III