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Question 5 Chapter 12 – Class 11 Unimax
5. 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 5 Chapter 12 – Class 11 Unimax
| 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 |
End of Solution
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Question 6 Chapter 12 – Class 11 Unimax
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1. Comprehensive Solutions for All Chapters of Advanced Accountancy I Class 11 by Unimax
UnimaxSolutions.in offers a comprehensive solution for students studying Advanced Accountancy I Part 1 in Class 11. With their meticulously curated study material, students can access comprehensive solutions to all the questions included within each chapter. By selecting the chapter name from the study material, students can easily navigate through the topics and find detailed explanations and step-by-step solutions to the problems presented in that section. Whether it’s understanding complex accounting concepts, mastering calculation techniques, or analyzing financial statements, Unimax provides a valuable resource to aid students in their learning journey. With these comprehensive solutions at their disposal, students can enhance their understanding, clarify doubts, and improve their problem-solving skills in Advanced Accountancy, ensuring they are well-prepared for their Class 11 examinations.
- 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
- Chapter No. 15 – Financial Statements (Without Adjustments)
- Chapter No. 16 – Financial Statements (With Adjustments)
- Chapter No. 17 – Accounts from Incomplete Records – Single Entry System
2. Punjab School Education Board (PSEB) Solutions of Usha Publication.
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