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need help for a/c entry

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(Querist)
02 July 2011 i m new in accounts . need entry for following transaction.

i ve ebook of A -
terms is outof total sale 50% share is A & 50% share is our . pl. help me for accounting entry .

e.g. Rs. 5000 total sale so Rs. 2500 is a share & Rs. 2500/- is our commission
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Shudhanshu Agrawal

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Shudhanshu Agrawal (Expert)
02 July 2011 In case of Cash sales

Bank/Cash A/c............Dr.
To Commission earned A/c
To Mr. A A/c

In case of Credit Sales

Party Name A/c ......Dr.
To Commission earned A/c
To Mr. A A/c
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priya

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priya (Querist)
03 July 2011 Thank u very much
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C A S.S.Agarwal, M.Com.,LL.B,

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C A S.S.Agarwal, M.Com.,LL.B, (Expert)
03 July 2011 Has rightly been given the entry but in my opinion profit is to be shared and not the gross sales. Who will bear the VAT or Service Tax?

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