Help me in a complex journal entry !

Page no : 2

Nitin Katariya (Article) (94 Points)
Replied 02 August 2012

Versh*tji right....

MADHURESH SUMAN (Article Assistant) (30 Points)
Replied 02 August 2012

varsh*t is right.

satish kumar Chauhan (accountant) (344 Points)
Replied 03 August 2012

Mr Varshisht Shah is right

jafer (studies) (194 Points)
Replied 05 August 2012

Originally posted by : Varsh*t Shah

yes mr. vas* shah is correct ! Thanks to all for your answers !

prince bathwal (article) (80 Points)
Replied 05 August 2012

Cash a/c Dr. xxx To S.Debtors A/c xxx As from ur question it seems that income has been considered in earlier years under the head Commission A/c thats why Opening Balance of Rs.10,000 is there.

prince bathwal (article) (80 Points)
Replied 05 August 2012

Cash a/c Dr. xxx To S.Debtors A/c xxx As from ur question it seems that income has been considered in earlier years under the head Commission A/c thats why Opening Balance of Rs.10,000 is there.

ajithkumar a (executive assistant) (21 Points)
Replied 06 August 2012

hi friend 1st we need to pass the due entry

ie, deb a/c dr

to commission (income)

then pass the entry that show the receipt of cash

ie, cash/bank dr

to deb.

B.SEKAR (manager-accts.) (61 Points)
Replied 10 August 2012

Dear Mr.Jafar,I understood yr qtn and give the entry.: first, you can create the provision for commission to be recd in the next year. e.g LIC a/c dr and commission a/c cr. being the provision created for the income to be recd. In the next year when u recd the cheque/cash , then put the entry as bank/ cash a/c dr and LIC a/c credited. by sekar-9445145480