Question

Hi!!!!!!
Adjustment : commission received in advance:1200.
Whereas commission is 2800. What is the answer......
It is an adjustment....
Where we have to write it in balance sheet?????

Answer 1

we write it as commission received in advance as a liability in the balance sheet as 1200

Answer 2

HEY...........

U R ANS..........

COMMISION RECIEVED IN ADVANCE IS A LIABILITY OF  BUSINESS..

WHEREAS IT IS WRITTEN IN LIABILITY SIDE OF BALANCE SHEET....

MAYBE IT HELPS 4U.........