Question

Commission is given in trial balance is 400 and in adjustment it said commision earned but not received amounted 150?

Answer 1

Answer:

Step 1: In Profit and Loss A/c Cr Side  400+150 = 550

Step 2:   150 in Balance Sheet Assets Side

Note: But make sure commission 400 given in the question is income for the business and it is given in the credit side of trial balance.

Explanation:

For more details please see Ultimate Book of Accountancy class 11th CBSE