Trial balance commission debit or credit?

Answer 1

Trial Balance Commission Credit Trial balance commission debit or credit?

In accounting, a trial balance is a list of the balances of all the general ledger accounts of a business at a particular point in time. It is typically prepared at the end of an accounting period, such as a month or a year, to help ensure that the total of all debits equals the total of all credits, which is a requirement for the double-entry system of accounting.

In the trial balance, commissions would be recorded as a debit in the commission expense account. This is because commission expenses are recorded as a debit in the general ledger because they represent an increase in the company's expenses. The debit entry in the commission expense account will be offset by a corresponding credit entry in the Accounts Payable account, which represents the company's liability to pay the commission.𝓱𝓽𝓽𝓹𝓼://𝔀𝔀𝔀.𝓭𝓲𝓰𝓲𝓼𝓽𝓸𝓻𝓮24.𝓬𝓸𝓶/𝓻𝓮𝓭𝓲𝓻/449012/𝓢𝓱𝓮𝓻𝓲𝓷𝓪𝓷𝓸𝓸𝓹/

Answer 2

Commission in a trial balance can be debit or even credit . It depends on a situation . If commission is given in the debit side of a trial balance then it is debit and if it is given in credit side then it is credit .

But if no info is given it is taken as debit .

Thanks

Answer 3

In a trial balance, commissions would typically be recorded as a debit in the commissions expense account.

A trial balance is a financial statement that lists all of the accounts in a company's general ledger and their balances at a given point in time. Each account is listed on the trial balance with either a debit balance or a credit balance. If the balance of an account is a debit, it means that there are more debits than credits in the account. If the balance of an account is a credit, it means that there are more credits than debits in the account.

Commissions are typically recorded as expenses on a company's income statement, so they would be recorded as a debit in the commissions expense account on the trial balance. This would be the case whether the commissions are earned by employees or paid to outside parties for services rendered.

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