question 01 total marks 5 2 10 the balance sheet of a co as on 31 12 2003 included t 4529086

Question 01: (Total
Marks =5×2=10)
The Balance Sheet
of A& Co as on 31-12-2003 included the following items:

Sundry Debtors Rs.
98,000
Less: Provision for
Bad Debts Rs. 2,450
Rs.95,550

At the end of the
following years, the gross amount of Debtors (before deducting a provision) was
as under:
2004 Rs.
94,000
2005 Rs.102,000
On each of these
years there was a provision for bad debts calculated on the same percentage
basis as on 31-12-2003.
The actual amount
of bad debts written off from Debtors Accounts over those periods was:
2004 Rs.2,600
2005 Rs.2,300
You are required to prepare Bad
Debts Account and Provision for Bad Debts Account for the years 2004 and 2005.

Question 02:

The financial year of Atif Brothers is
closed on June 30, 2002. You are required to prepare Debtors control account
and Creditor control account from the data given below:

Opening
balance
Debtors 150,000
Creditors 250,000
Sales
Cash 180,000
Credit 260,000
Purchases
Cash 120,000
Credit 200,000
Total receipts 350,000
Total payments 250,000
Discount allowed 15,000
Discount received 10,000
Bad debts written off 25,000
Increase in provision for doubtful
debts 5,000

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