Question 1 Chapter 12 – Class 11 Unimax

Question 1 Chapter 12 – Class 11 Unimax


Question 1 Chapter 12 – Class 11 Unimax

1. The following are the extracts of the trial balance as on 31st March 2020.

Sundry debtors42,000 

Addition information-
(1) Book debts proved bad but not recorded amounted to ₹ 2,000.

(2) Provision for doubtful debts is to be created at 10% on sundry debtors.

Pass Journal entries and show them in the profit and loss account and balance sheet of the company.

The solution of Question 1 Chapter 12 – Class 11 Unimax

Date Particulars L.F.DebitCredit
Mar.31Bad debts A/cDr. 2,000 
 To Sundry debtors A/c   2,000
 (Being bad debts written off)    
Mar.31Profit & Loss A/cDr. 2,000 
 To Bad debts A/c   2,000
 (Being bad debts transferred to P & L a/c)    
Mar.31Profit & Loss A/cDr. 4,000 
 To Provision for doubtful debts A/c   4,000
 (Being creating provision for doubtful debts)    

Profit & Loss A/c
For the year ended 31st March 2020

To Bad debts A/c2,000  
To Provision for doubtful A/c4,000  

Balance sheet
as on 31st March 2020 

  Sundry Debtors42,000 
  Less: Bad debts2,000 
  Less: Provision for Doubtful Debts4,00036,000


End of Solution

Check Out the Solution of all questions for this chapter:

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