Question 5 Chapter 12 – Class 11 Unimax

Question 5 Chapter 12 – Class 11 Unimax


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 
To Balance c/d5,000By profit & Loss A/c5,000
 5,000 5,000
To Bad debts1,600By balance b/d5,000
To Balance c/d15,000By profit & Loss A/c11,600
 16,600 16,600
Bad debts A/c
ParticularsAmountParticulars Amount
To Debtors A/c1,600By provision for bad debts A/c 1,600
 1,600  1,600
Profit & loss A/c as on 31/12/2018 Cr
ParticularsAmountParticulars Amount
By provision for bad debts A/c5,000   

Profit & loss A/c as on 31/12/2019

Liabilities  AmountAssets  Amount
To bad debts1,600    
Add: new provision for bad debts15,000    
Less: old provision for bad debts5,00011,600   

Balance sheet as on 31/12/2018

Liabilities AmountAssets  Amount
  Sundry Debtors2,50,000 
  Less: new provision for bad debts5,0002,45,000

Balance sheet as on 31/12/2019

Liabilities AmountAssets  Amount
  Sundry Debtors3,00,000 
  Less: new provision for bad debts15,0002,85,000


End of Solution

Check Out the Solution of all questions for this chapter:

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2. Punjab School Education Board (PSEB) Solutions of Usha Publication.

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