Question No 4 Chapter No 12 - Unimax 11 Class

Question No 4 Chapter No 12 – Unimax Class 11

Table of Contents

The solution of Question No 4 Chapter No 12 – Unimax Class 11:

Advanced Accountancy – Unimax Class 11 – 2021 – Solution.

Prepare the bad debts account, provision for bad debts account, profit and loss account and balance sheet from the following information as on December 31, 2019:

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		₹
Debtors		80,000
Bad debts		2,000
Provision for bad debts		5,00
Adjustments:
Bad debts ₹ 500, provision on debtors @ 3%.

The solution of Question No 4 Chapter No 12 – Unimax Class 11:

Dr	Dr. Bad debts A/c Cr.		Cr
Particulars	Amount	Particulars	Amount
To Balance b/d	2,000	By provision for bad debts A/c	2,500
To Debtors A/c	500
	2,500		2,500

Provision for bad debts A/c				Cr
Particulars	Amount	Particulars		Amount
To Bad debts A/c	2,500	By Balance b/d		5,000
To Balance c/d	2,385
To profit & Loss A/c	115

	5,000			5,000
Profit & Loss A/c				Cr
Particulars	Amount	Particulars		Amount
		By provision for bad debts	5,000
		Less: Bad debts	500
		Less: further bad debts	2,000
		Less: new provision for bad debts	2,385	115

Balance sheet as on 31/12/2019

Liabilities	Amount	Assets		Amount
		Debtors	80,000
		Less: further bad debts	500
			79,500
		Less: new provision for bad debts	2,385	77,115

Working Note:

1. 80,000 – 500 = 79,500 – (2,385) = 77,115

2. 79,500 X 3/100 = 2,385

It is all about Question No 4 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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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

Question No 4 Chapter No 12 – Unimax 11 Class

The solution of Question No 4 Chapter No 12 – Unimax Class 11:

Balance sheet as on 31/12/2019

Working Note:

Advanced Accountancy – Unimax Class 11 – 2021 – Solution.

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