Question 6 Chapter 12 – Class 11 Unimax

Question 6 Chapter 12 – Class 11 Unimax


Question 6 Chapter 12 – Class 11 Unimax

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

Name of accountsL.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

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%

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 
To Balance b/d28,500
By provision for bad debts A/c28,500
 28,500 28,500
Discount allowed A/c
ParticularsAmountParticulars Amount
To Balance b/d17,000By provision for bad debts A/c 17,000
 17,000  17,000
Provision for bad debts A/c Cr
ParticularsAmountParticulars Amount
To Bad debts A/c28,500By Balance b/d 30,000
To Balance c/d49,000By P&L a/c 47,500
 77,500  77,500

Provision for discount on debtors A/c

Liabilities  AmountAssets  Amount
To Discount A/c 17,000By Balance b/d 24,000
To Balance c/d 8,820By P&L a/c 1,820
  25,820  25,820

Profit & Loss A/c as on 31.02.2019

Liabilities  AmountAssets Amount
To bad debts18,500   
Add: further bad debts10,000   
Add: new provision for bad debts49,000   
Less: old provision for bad debts30,00047,500  
To Discount17,000   
Add: new provision for discount on debtors8,820   
Less: old provision for discount on creditors24,0001,820  

Balance sheet as on 31/03/2019

Liabilities AmountAssets  Amount
   Sundry Debtors5,00,000 
  Less: new further bad debts10,000 
  Less: new provision for bad debts49,000 
  Less: new provision for discount on debtors8,8204,32,180


End of Solution

Check Out the Solution of all questions for this chapter:

The solutions to all questions of Chapter No. 12 – Provision and Reserves Unimax are shown as follows, click on the image of the question to get the solution.

1. Comprehensive Solutions for All Chapters of Advanced Accountancy I Class 11 by Unimax 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.

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

If you’re a student enrolled in the Punjab School Education Board Class 11, it’s essential to explore a wide range of books to cover the syllabus thoroughly. While the prescribed textbooks are undoubtedly valuable, supplementing your studies with additional resources can enhance your understanding and knowledge. Consider checking out other books that align with the curriculum, offering different perspectives and insights on the subjects you’re studying. These supplementary materials can provide you with alternative explanations, practice questions, and examples that may aid in clarifying complex concepts. Moreover, exploring diverse sources can expose you to a variety of writing styles and viewpoints, fostering a broader understanding of the subjects. So, seize the opportunity to expand your learning by delving into other books that can complement your studies and contribute to your academic growth.


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