CBSE Class 11-commerce Answered
Profit and Loss Account (Extract)
Dr. |
|
Cr. |
|||||
Particulars |
|
Amount Rs. |
Particulars |
|
Amount Rs. |
||
To Bad debts |
1.500 |
|
By Bad debts recovered |
|
600 |
||
Add: Further Bad Debt |
1,000 |
|
By Commission |
6,000 |
|
||
|
2,500 |
|
Less: 1/3rd Received in advance |
2,000 |
4,000 |
||
Add: Provision of doubtful debts @5% (new) |
2500 |
|
|
|
|
||
|
5,000 |
|
|
|
|
||
Less: Provision for doubtful debt (old) |
800 |
4,200 |
|
|
|
||
|
|
|
|
|
|
||
Balance Sheet (Extract)
Liabilities |
|
Amount Rs. |
Assets |
|
Amount Rs. |
Commission Received in Advance |
|
2,000 |
Debtors |
51,000 |
|
Outstanding Rent |
|
400 |
Less: Further Bad debts |
1,000 |
|
|
|
|
|
50,000 |
|
|
|
|
Less: Provision of Doubtful debts @5% (50,000 * 5%) |
2,500 |
47,500 |
|
|
|
Cash (Bad debts recovered) |
|
600 |
|
|
|
Prepaid Salaries |
|
300 |