At The Time of Admission of New Partner Vasu, Old Partners Paresh and Prabhav Had Debtors of ₹6,20,000 - Bzziii.com

At the time of admission of new partner Vasu, Old partners Paresh and Prabhav had debtors of ₹6,20,000 and a provision for doubtful debts of ₹20,000
At the time of admission of new partner Vasu, Old partners Paresh and Prabhav had debtors of ₹6,20,000 and a provision for doubtful debts of ₹20,000 in their books. As per terms of admission, assets were revalued, and it was found that debtors worth ₹15,000 had turned bad and hence should be written off. Which journal entry reflects the correct accounting treatment of the above situation.

DateParticularsAmount (Dr.)Amount (Cr.)
(a)Bad Debts A/cDr.15,000
  To Sundry Debtors15,000
Provision for doubt full debts A/c15,000

    To Bad Debts A/c
15,000
(b)Bad Debts A/c15,000
   To Sundry Debtors15,000

Revaluation A/c15,000
   To Provision for doubt full debts A/c15,000
(c)Revaluation A/c15,000
   To Sundry Debtors A/c15,000

(d)Bad debts A/c 15,000
     To Revaluation A/c15,000







DateParticularsAmount (Dr.)Amount (Cr.)
(a)Bad Debts A/cDr.15,000
  To Sundry Debtors15,000
Provision for doubt full debts A/c15,000

    To Bad Debts A/c
15,000






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