Advertisement
Question No 5 Chapter No 12 – Unimax Class 11
Advertisement
On 31st December 2018, Sundry debts were ₹ 2,50,000, on which a provision for doubtful debts was to be made at 2%
During 2019, there were bad debts amounted to ₹ 1,600. On 31st December 2019, sundry debtors stood at ₹ 3,00,000, on which a provision for doubtful debts at 5% was to be maintained.
Prepare necessary ledger accounts and show how these items would appear in the profit & Loss account and balance sheet as at 31st December 2018 & 31st December 2019.
The solution of Question No 5 Chapter No 12 – Unimax Class 11:
| Provision for bad debts A/c | |||
| Particulars | Amount | Particulars | Amount |
| 2018 | |||
| To Balance c/d | 5,000 | By profit & Loss A/c | 5,000 |
| 5,000 | 5,000 | ||
| 2019 | |||
| To Bad debts | 1,600 | By balance b/d | 5,000 |
| To Balance c/d | 15,000 | By profit & Loss A/c | 11,600 |
| 16,600 | 16,600 | ||
| Bad debts A/c | Cr | |||
| Particulars | Amount | Particulars | Amount | |
| 2019 | ||||
| To Debtors A/c | 1,600 | By provision for bad debts A/c | 1,600 | |
| 1,600 | 1,600 | |||
| Profit & loss A/c as on 31/12/2018 | Cr | |||
| Particulars | Amount | Particulars | Amount | |
| By provision for bad debts A/c | 5,000 | |||
Profit & loss A/c as on 31/12/2019
| Liabilities | Amount | Assets | Amount | ||
| To bad debts | 1,600 | ||||
| Add: new provision for bad debts | 15,000 | ||||
| 16,600 | |||||
| Less: old provision for bad debts | 5,000 | 11,600 |
Balance sheet as on 31/12/2018
| Liabilities | Amount | Assets | Amount | |
| Sundry Debtors | 2,50,000 | |||
| Less: new provision for bad debts | 5,000 | 2,45,000 |
Balance sheet as on 31/12/2019
| Liabilities | Amount | Assets | Amount | |
| Sundry Debtors | 3,00,000 | |||
| Less: new provision for bad debts | 15,000 | 2,85,000 |
It is all about Question No 5 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
Advertisement-X
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
- Chapter No. 1 – Introduction of Accounting
- Chapter No. 2 – Theory Base of Accounting
- Chapter No. 3 – Vouchers and Transactions
- Chapter No. 4 – Journal
- Chapter No. 5 – Goods and Services Tax (GST): An Introduction
- Chapter No. 6 – Ledger
- Chapter No. 7 – Special Purpose Book – Cash Book
- Chapter No. 8 – Other Subsidiary Books
- Chapter No. 9 – Trial Balance
- Chapter No. 10 – Rectification of Errors
- Chapter No. 11 – Depreciation
- Chapter No. 12 – Provision and Reserves
- Chapter No. 13 – Bank Reconciliation Statement
- Chapter No. 14 – Bills of Exchange
Advertisement-X
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
Advertisement-Y