Question No 6 Chapter No 12 - Unimax 11 Class

Question No 6 Chapter No 12 – Unimax Class 11

Table of Contents

The solution of Question No 6 Chapter No 12 – Unimax Class 11:

Advanced Accountancy – Unimax Class 11 – 2021 – Solution.

6. Following balance were extracted from the Trial Balance of M/s Duggal Traders as on 31.3.2019

Name of accounts	L.F.	Dr.	Cr.
Sundry debtors		5,00,000
Discount allowed		17,000
Bad debts		18,500
Provision for bad debts			30,000
Provision for discount on debtors			24,000

Adjustment:
1. Further bad debts were ₹ 10,000
2. Provision for bad debts to be created @ 10%
3. Provision for discount on debtors to be created @2%

Requirement:
1. Prepare necessary ledger accounts
2. Show, how these items would appear in the profit & loss account and the balance sheet as at 31.3.2019.

The solution of Question No 6 Chapter No 12 – Unimax Class 11:

	Bad debts A/c
Particulars	Amount	Particulars	Amount
To Balance b/d	28,500 18,500	By provision for bad debts A/c	28,500

	28,500		28,500

Discount allowed A/c			Cr
Particulars	Amount	Particulars	Amount
To Balance b/d	17,000	By provision for bad debts A/c	17,000

	17,000		17,000
Provision for bad debts A/c			Cr
Particulars	Amount	Particulars	Amount
To Bad debts A/c	28,500	By Balance b/d	30,000
To Balance c/d	49,000	By P&L a/c	47,500
	77,500		77,500

Provision for discount on debtors A/c

Liabilities	Amount	Assets	Amount
To Discount A/c	17,000	By Balance b/d	24,000
To Balance c/d	8,820	By P&L a/c	1,820

	25,820		25,820

Profit & Loss A/c as on 31.02.2019

Liabilities		Amount	Assets	Amount
To bad debts	18,500
Add: further bad debts	10,000
Add: new provision for bad debts	49,000
	77,500
Less: old provision for bad debts	30,000	47,500
To Discount	17,000
Add: new provision for discount on debtors	8,820
	25,820
Less: old provision for discount on creditors	24,000	1,820

Balance sheet as on 31/03/2019

Liabilities	Amount	Assets		Amount
		Sundry Debtors	5,00,000
		Less: new further bad debts	10,000
		Less: new provision for bad debts	49,000
		Less: new provision fore discount on debtors	8,820	4,32,180

It is all about Question No 6 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

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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 6 Chapter No 12 – Unimax 11 Class

The solution of Question No 6 Chapter No 12 – Unimax Class 11:

Provision for discount on debtors A/c

Profit & Loss A/c as on 31.02.2019

Balance sheet as on 31/03/2019

Advanced Accountancy – Unimax Class 11 – 2021 – Solution.

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