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Consignment accounts

A of Agra consigned 100 units of commodity to D of Delhi. The good were invoiced at
Rs 150 per unit so as to yield a profit 50% on cost. A incurred Rs 1000 on freight and
Insurance . D incurred Rs500 on freight and Rs 800 on rent . Before December 31,1988
He sold 50 units for cash at Rs 160 perunit and 20 units on credit for Rs 175 per unit . he
Retained his commission at 5% and 1% del credre on all sales and remiited the balance on
December 31,1988. D noticed that 10 units were damaged on account of bad packing
And could not sell them only for Rs 80 per unit . A debtor for Rs1000 to whom goods were
Sold on credit became insolvent and only 50 paise in a rupee could be recovered . prepare
Necessary ledger accounts in the books of A and D.

asked Feb 2, 2016 in Consignments by Jasmine (6 points) 275 views

1 Answer

0 votes

In case of any doubt, please don't hesitate to ask again.

answered Feb 3, 2016 by jbsclasses (3,971 points)