XI Accounting Rule 07 Received advance Or Unearned

XI Accounting Rule  07 Received advance Or Unearned

16 Nov 2018 Received commission in advance through a cheque of Rs.12,000.
16 Nov 2018 Received cash rent in advance 2000
16 Nov 2018 Rent for the year received Rs 130,000 in advance
16 Nov 2018 Received Commission in advance during the year Rs 2000.
16 Nov 2018 Received commission in advance through a cheque of Rs.12,000. Same day deposit into bank
16 Nov 2018 Received cash rent in advance 2000 and deposit into bank
16 Nov 2018 Received cheque for shop rent in advance 5000 and deposit into bank
Received advance Or Unearned www.biek.pk


16 Nov 2018 Received commission in advance through a cheque of Rs.12,000.


Date
Particular
P/R
Debit
Credit
2018
Nov  16

cash
      Unearned commission
To record Received for  commission in advance 


12000


12000




16 Nov 2018 Received cash  rent in advance 2000


Date
Particular
P/R
Debit
Credit
2018
Nov  16

Cash
      Unearned rent
To record Received cash for rent in advance 


2000


2000


16 Nov 2018 Rent for the year received Rs 130,000 in advance


Date
Particular
P/R
Debit
Credit
2018
Nov  16

Cash
      Unearned rent
To record Received for rent in advance 


130,000


130,000

16 Nov 2018 Received Commission in advance during the year Rs 2000.


Date
Particular
P/R
Debit
Credit
2018
Nov  16

cash
      Unearned commission
To record Received for  commission in advance 


2000


2000


Trading Topics


Rule 04 Purchase Merchandise 

Rule 05 Sold Merchandise

Rule 06 Prepaid

16 Nov 2018 Received commission in advance through a cheque of Rs.12,000. Same day deposit into bank


Date
Particular
P/R
Debit
Credit
2018
Nov  16

Bank
      Unearned commission
To record Received cheque for  commission in advance & deposit into bank


12000


12000


16 Nov 2018 Received cash  rent in advance 2000 and deposit into bank


Date
Particular
P/R
Debit
Credit
2018
Nov  16

Bank
      Unearned rent
To record Received cheque for rent in advance & deposit into bank


2000


2000

16 Nov 2018 Received cheque for shop rent in advance 5000 and deposit into bank

Date
Particular
P/R
Debit
Credit
2018
Nov  16

Bank
      Unearned shop rent
To record Received cheque for rent in advance & deposit into bank


5000


5000



Assignment 


  1. Paid Cash for rent in advance 2000
  2. Signed contract with the customer for Rs 30,000 and Received advance from customer Rs 10000.
  3.  Received further advance from customer Rs 10000
  4. Issued cheque for advertising in advance 5000
  5. 16 Nov 2018 Received Commission in advance during the year Rs 2000.
  6. 16 Nov 2018 Received commission in advance through a cheque of Rs.12,000. Same day deposit into bank
  7. 16 Nov 2018 Received cash  rent in advance 2000 and deposit into bank
  8. 16 Nov 2018 Received cheque for shop rent in advance 5000 and deposit into bank

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