Commission received from Krishna rs200 wrongly credited to Krishna a/c

1.	Commission received from Krishna rs200 wrongly credited to Krishna a/c.error of principlerectify them before trial balanceafter trial balanceafter final a/c's
Answer» Answer: Explanation: CORRECT ENTRY SHOULD HAVE BEEN CASH A/C DR 200.00 TO COMMISSION A/C 200.00 NOTE : CONSIDERED THAT COMMISSION IS RECEIVED IN CASH WRONG ENTRY PASSED CASH A/C DR 200.00 TO KRISHNA A/C 200.00 NOW CORRECT ENTRY WILL BE KRISHNA A/C DR 200.00 TO COMMISSION A/C 200.00 (Being commission received from Krishna Rs200 wrongly CREDITED to Krishna a/c) after passing this entry, every account will be correct and then FINAL ACCOUNTS can be prepared

Commission received from Krishna rs200 wrongly credited to Krishna a/c.error of principlerectify them before trial balanceafter trial balanceafter final a/c's

Answer»

Answer:

Explanation:

CORRECT ENTRY SHOULD HAVE BEEN

CASH A/C DR 200.00

TO COMMISSION A/C 200.00

NOTE : CONSIDERED THAT COMMISSION IS RECEIVED IN CASH

WRONG ENTRY PASSED

CASH A/C DR 200.00

TO KRISHNA A/C 200.00

NOW CORRECT ENTRY WILL BE

KRISHNA A/C DR 200.00

TO COMMISSION A/C 200.00

(Being commission received from Krishna Rs200 wrongly CREDITED to Krishna a/c)

after passing this entry, every account will be correct and then FINAL ACCOUNTS can be prepared

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