Interested to Buy Any Domain ? << Click Here >> for more details...
Answer Posted / romey singh
THE INTEREST WHICH IS EARNED BUT STILL NOT RECEIVED.FOR
EXAMPLE IF U GET COMMISSION ON SIX MONTHLY BASIS AND IN
BETWEEN THE FINANCIAL CLOSING COMES SAY MARCH 31 AND NEXT
COMMISSION DUE DATE IS JUNE 30 IT MEANS THAT THE FIRST 3
MONTHS COMES UNDER (JAN TO MARCH) CURRENT FINANCIAL
YEAR,THEREFORE IT IS ESSENTIAL TO CHARGE COMMISSION OF THOSE
3 MONTHS IN CURRENT FINANCIAL YEAR(ACCORDING TO RULES OF ACCRUAL ACCOUNTING)SO U WILL CALCULATE THE 3 MONTHS
COMMISSION AND PASS THE FOLLOWING ENTRY.
ACCRUED COMMISSION A/C......DR
TO COMMISSION A/C
YOU WILL SHOW THIS AMOUNT IN ASSETS SIDE OF B/S.
| Is This Answer Correct ? | 15 Yes | 1 No |
Post New Answer View All Answers
WHAT IS MIS REPORT IN ACCOUNTS ? WHAT IS ITS USE IN ACCOUNTS & GIVE WITH AN EXAMPLE ?
Richman Corporation has 120,000 shares of $5 par value common stock outstanding. It declared a 10% stock dividend on June 1 when the market price per share was $12. The shares were issued on June 30. Instructions: Prepare the necessary entries for the declaration and payment of the stock dividend.
payment voucher for advance salary
is we can prepare any account for partnership in tally
What is band and why the company needs this?
journal entries for money received from RBI by the banks IN CASE OF INSUFFICIENCY
Why you want to change???
Tell me what do you think is bank reconciliation statement?
bank releted question interviw plz tel me
if any otion in tallyerp9 version about doing Luxury tax work
what is a register when referring to accounting or bookkeeping?
What is the general entry for charge on bank overdraft
What is accounting & why it is used?
director wife expenses which entry
What is cost accountancy? What are the objects of cost accountancy?
