Commission agent
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
10 July 2013
hii...to all experts plz help me out, i need to know what will be the accounting treatment of purchases made by an agent......
in case of sale he receives commission from his principal for the sale made by him...in this case the agent will recognise his sale by the amount of the commission received...but in the same case how will he recognises the purchase in his books
in case of sale he receives commission from his principal for the sale made by him...in this case the agent will recognise his sale by the amount of the commission received...but in the same case how will he recognises the purchase in his books
10 July 2013
As it is not his own purchase can open a temporary nominl a/c as goods a/c where all entries will be related to goods rec from principal and actual sales made by agent...bal will be stock .
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