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generic · CBSE Class 11 English medium · ACCOUNTANCY · Page 18example

Financial Statements - II

Chapter 10: Financial Statements - II · ACCOUNTANCY · EN medium

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= Rs. In case the commission is % of the profit after charging such commission, = Profit before commission × Rate of commission/ ( + commission) Rs. × = Rs. . = The managers commission will be adjusted in the books of account by Let us recall our example and assume that Ankit’s manager is entitled to a commission @ %. Observe the following profit and loss account if it is based

📖 Accounts 10 (1) · Page 18

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= Rs. In case the commission is % of the profit after charging such commission, = Profit before commission × Rate of commission/ ( + commission) Rs. × = Rs. .

= The managers commission will be adjusted in the books of account by Let us recall our example and assume that Ankit’s manager is entitled to a commission @ %. Observe the following profit and loss account if it is based

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n chapter 9, you learnt about the preparation of→accounts will not reflect the true and fair view of the→Let us take another example. The salaries for the month of March, 2014→in figure 10.1→and loss account of Ankit for the year ended March 31, 2014 and his balance→opening and closing stocks are adjusted through purchases, the trial→

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