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Accounting treatment of real state transaction

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Querist : Anonymous

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Querist : Anonymous (Querist)
10 March 2015 Hello 2 all

I have a query regarding accounting entry???

Suppose Mr. A Receive commission from Mr. B( is a Builder)and also purchase flat from him.

So, What will be the journal entry of that transaction.

1. Either net of commission in P/L A/c
Or
2. Commission showed as a Separate Income in P/L A/c.

Thanks
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Gaurav Vora

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Gaurav Vora (Expert)
10 March 2015 The sale amount & the Commission amount should be shown separately in the P & L A/c, since both are different transactions.
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Querist : Anonymous

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Querist : Anonymous (Querist)
11 March 2015 Mr. Gaurav Pl Provide me if there is any reference.

Regards
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Querist : Anonymous

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Querist : Anonymous (Querist)
11 March 2015 Mr. Gaurav Pl Provide me if there is any reference.

Regards

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