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Provision for bad-debts as on 1.4.08 Rs. 1,000, during the year 2008-09 there were no bad-debts and debtors as on 31.3.09 were Rs. 90,000. Provision for bad-debts required @ 1% which of the following journal Entry will be passed on 31.3.09?
- a)P & L A/c Dr. 100
To Provision for Doubtful debts 100 - b)Provision for Doubtful debts Dr. 100
To P&L A/c 100 - c)P & L A/c Dr. 900
To Provision for Doubtful debts 900 - d)No entry will be passed.
Correct answer is 'B'. Can you explain this answer?
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Provision for bad-debts as on 1.4.08 Rs. 1,000, during the year 2008-0...
In the above question there is already unutilised Provision of 1000 ₹ ............ & provision is required for 1% of 90000 i.e. ₹ 900............ So in order to cancel ₹ 100 provision, provision a/c is debited and p&l is credited :)
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Provision for bad-debts as on 1.4.08 Rs. 1,000, during the year 2008-0...
& L A/c Dr. Rs. 900
To Provision for Bad-Debts A/c Rs. 900
Explanation: Since there were no bad debts during the year 2008-09, the provision for bad debts remains the same as on 1.4.08 i.e. Rs. 1,000. However, the provision required as per the given information is only 1% of the debtors as on 31.3.09 i.e. Rs. 900. Therefore, the difference of Rs. 100 (i.e. Rs. 1,000 - Rs. 900) needs to be transferred to the profit and loss account as a charge for the year. Hence, the above journal entry is passed.
To Provision for Bad-Debts A/c Rs. 900
Explanation: Since there were no bad debts during the year 2008-09, the provision for bad debts remains the same as on 1.4.08 i.e. Rs. 1,000. However, the provision required as per the given information is only 1% of the debtors as on 31.3.09 i.e. Rs. 900. Therefore, the difference of Rs. 100 (i.e. Rs. 1,000 - Rs. 900) needs to be transferred to the profit and loss account as a charge for the year. Hence, the above journal entry is passed.
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Provision for bad-debts as on 1.4.08 Rs. 1,000, during the year 2008-09 there were no bad-debts and debtors as on 31.3.09 were Rs. 90,000. Provision for bad-debts required @ 1% which of the following journal Entry will be passed on 31.3.09?a)P & L A/c Dr. 100To Provision for Doubtful debts 100b)Provision for Doubtful debts Dr. 100To P&L A/c 100c)P & L A/c Dr. 900To Provision for Doubtful debts 900d)No entry will be passed.Correct answer is 'B'. Can you explain this answer?
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Provision for bad-debts as on 1.4.08 Rs. 1,000, during the year 2008-09 there were no bad-debts and debtors as on 31.3.09 were Rs. 90,000. Provision for bad-debts required @ 1% which of the following journal Entry will be passed on 31.3.09?a)P & L A/c Dr. 100To Provision for Doubtful debts 100b)Provision for Doubtful debts Dr. 100To P&L A/c 100c)P & L A/c Dr. 900To Provision for Doubtful debts 900d)No entry will be passed.Correct answer is 'B'. Can you explain this answer? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about Provision for bad-debts as on 1.4.08 Rs. 1,000, during the year 2008-09 there were no bad-debts and debtors as on 31.3.09 were Rs. 90,000. Provision for bad-debts required @ 1% which of the following journal Entry will be passed on 31.3.09?a)P & L A/c Dr. 100To Provision for Doubtful debts 100b)Provision for Doubtful debts Dr. 100To P&L A/c 100c)P & L A/c Dr. 900To Provision for Doubtful debts 900d)No entry will be passed.Correct answer is 'B'. Can you explain this answer? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Provision for bad-debts as on 1.4.08 Rs. 1,000, during the year 2008-09 there were no bad-debts and debtors as on 31.3.09 were Rs. 90,000. Provision for bad-debts required @ 1% which of the following journal Entry will be passed on 31.3.09?a)P & L A/c Dr. 100To Provision for Doubtful debts 100b)Provision for Doubtful debts Dr. 100To P&L A/c 100c)P & L A/c Dr. 900To Provision for Doubtful debts 900d)No entry will be passed.Correct answer is 'B'. Can you explain this answer?.
Provision for bad-debts as on 1.4.08 Rs. 1,000, during the year 2008-09 there were no bad-debts and debtors as on 31.3.09 were Rs. 90,000. Provision for bad-debts required @ 1% which of the following journal Entry will be passed on 31.3.09?a)P & L A/c Dr. 100To Provision for Doubtful debts 100b)Provision for Doubtful debts Dr. 100To P&L A/c 100c)P & L A/c Dr. 900To Provision for Doubtful debts 900d)No entry will be passed.Correct answer is 'B'. Can you explain this answer? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about Provision for bad-debts as on 1.4.08 Rs. 1,000, during the year 2008-09 there were no bad-debts and debtors as on 31.3.09 were Rs. 90,000. Provision for bad-debts required @ 1% which of the following journal Entry will be passed on 31.3.09?a)P & L A/c Dr. 100To Provision for Doubtful debts 100b)Provision for Doubtful debts Dr. 100To P&L A/c 100c)P & L A/c Dr. 900To Provision for Doubtful debts 900d)No entry will be passed.Correct answer is 'B'. Can you explain this answer? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Provision for bad-debts as on 1.4.08 Rs. 1,000, during the year 2008-09 there were no bad-debts and debtors as on 31.3.09 were Rs. 90,000. Provision for bad-debts required @ 1% which of the following journal Entry will be passed on 31.3.09?a)P & L A/c Dr. 100To Provision for Doubtful debts 100b)Provision for Doubtful debts Dr. 100To P&L A/c 100c)P & L A/c Dr. 900To Provision for Doubtful debts 900d)No entry will be passed.Correct answer is 'B'. Can you explain this answer?.
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Provision for bad-debts as on 1.4.08 Rs. 1,000, during the year 2008-09 there were no bad-debts and debtors as on 31.3.09 were Rs. 90,000. Provision for bad-debts required @ 1% which of the following journal Entry will be passed on 31.3.09?a)P & L A/c Dr. 100To Provision for Doubtful debts 100b)Provision for Doubtful debts Dr. 100To P&L A/c 100c)P & L A/c Dr. 900To Provision for Doubtful debts 900d)No entry will be passed.Correct answer is 'B'. Can you explain this answer?, a detailed solution for Provision for bad-debts as on 1.4.08 Rs. 1,000, during the year 2008-09 there were no bad-debts and debtors as on 31.3.09 were Rs. 90,000. Provision for bad-debts required @ 1% which of the following journal Entry will be passed on 31.3.09?a)P & L A/c Dr. 100To Provision for Doubtful debts 100b)Provision for Doubtful debts Dr. 100To P&L A/c 100c)P & L A/c Dr. 900To Provision for Doubtful debts 900d)No entry will be passed.Correct answer is 'B'. Can you explain this answer? has been provided alongside types of Provision for bad-debts as on 1.4.08 Rs. 1,000, during the year 2008-09 there were no bad-debts and debtors as on 31.3.09 were Rs. 90,000. Provision for bad-debts required @ 1% which of the following journal Entry will be passed on 31.3.09?a)P & L A/c Dr. 100To Provision for Doubtful debts 100b)Provision for Doubtful debts Dr. 100To P&L A/c 100c)P & L A/c Dr. 900To Provision for Doubtful debts 900d)No entry will be passed.Correct answer is 'B'. Can you explain this answer? theory, EduRev gives you an
ample number of questions to practice Provision for bad-debts as on 1.4.08 Rs. 1,000, during the year 2008-09 there were no bad-debts and debtors as on 31.3.09 were Rs. 90,000. Provision for bad-debts required @ 1% which of the following journal Entry will be passed on 31.3.09?a)P & L A/c Dr. 100To Provision for Doubtful debts 100b)Provision for Doubtful debts Dr. 100To P&L A/c 100c)P & L A/c Dr. 900To Provision for Doubtful debts 900d)No entry will be passed.Correct answer is 'B'. Can you explain this answer? tests, examples and also practice Commerce tests.
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