Question no 09 Chapter No 16 – Unimax Class 11

Question No 0 9 Chapter No 16 - UNIMAX Class 11
Question No 0 9 Chapter No 16 - UNIMAX Class 11

Question No 09 Chapter No 16 – Unimax Class 11

From the following, pass the journal entry to adjust the commission received and show how it will be recorded in final accounts assuming that accounts are closed on 31st March, every year.

Extracts of Trial Balance as at 31.3.2020  
Particulars Debit Credit
Commission received   7200

Adjustment : commission received but not earned ₹ 800.

The solution of Question No 09 Chapter No 16 – UNIMAX Class 11

Journal
Date Particulars L.F. Debit Credit
31.3.2020 Commission A/c Dr.   800  
  To unearned commission A/c       800
  (Being adjustment of commission received in advance )          

 

  Profit & Loss A/c
             for the year ended 31st March,2020
 
Particulars Amount Particulars Amount
      By Commission  7,200   
      Less: Unearned 800  
          Balance Sheet
         As at 31st March, 2020 
 
Liabilities Amount Assets Amount
Unearned commission   800    

Thanks, Please Like and share with your friends  

Comment if you have any Doubts .lance Sheet

Final Accounts: Meaning, Definition and Explanation

 

Profit and Loss Account: Meaning, Format & Examples

 

Advertisement-X

Balance Sheet: Meaning, Format & Examples

Also, Check out the solved question of all Chapters: –

Advanced Accountancy – Unimax Class 11 – 2021 – Solution.

Part-I

Students may choose only one part from the Part II and Part III

Part-II

  • Chapter No. 15 – Financial Statements (Without Adjustments)
  • Chapter No. 16 – Financial Statements (With Adjustments)
  • Chapter No. 17 – Accounts from Incomplete Records –  Single Entry System

Part-III

  • Chapter No. 18 – Introduction to Computers and Accounting information System
  • Chapter No. 19 – Computerised Accounting
  • Chapter No. 20 – Accounting Software: Tally 
  • Chapter No. 21 – Data Base System
  • Chapter No. 22 – Concept of Entity and Relationship 

Usha Publication – Elements of Book-Keeping PSEB (Class 11) – Solution

Chapter No. 1 – Introduction

Chapter No. 2 – Theory Base of Accounting 

Chapter No. 3 – Origin of Transactions

Chapter No. 4 – Vouchers and transactions

Chapter No. 5 – Journal

Advertisement-X

Chapter No. 6 – Accounting for Goods and Services Tax(GST)

Chapter No. 7 – Ledger

Chapter No. 8 – Cash Book

Chapter No. 9 – Other Subsidiary Books

Chapter No. 10 – Journal Proper

Chapter No. 11 – Trial Balance

Chapter No. 12 – Bank Reconciliation Statement

Chapter No. 13 – Depreciation

Chapter No. 14 – Provisions and Reserves 

Chapter No. 15 – Bills of Exchange

Advertisement-X

Chapter No. 16 – Rectification of Errors 

Chapter No. 17 – Financial Statements – (Without Adjustments)

Chapter No. 18 – Financial Statements – (With Adjustments)

Check out T.S. Grewal +1 Book 2019 @ Oficial Website of Sultan Chand Publication

 

Advertisement

error: Content is protected !!