Question No 3 Chapter No 12 – Unimax 11 Class

Question No 3 Chapter No 12 - Unimax Class 11
Question No 3 Chapter No 12 - Unimax Class 11

Question No 3 Chapter No 12 – Unimax Class 11

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

Free Accounting book Solution - Class 11 and Class 12
   
Sundry debtors   80,500
Provision for Bad Debts   5,000
Bad debts   1,000
Additional information;    
Bad debts   500

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

Working Note:

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

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

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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