Consigment A/c

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Querist : Anonymous

Querist : Anonymous (Querist)

05 September 2010 X of Kolkata sends out goods costing 1,00,000 to Y of Mumbai at cost + 25%. Consignor's expenses Rs. 2000. 3/5th of the goods were sold by consignee at 85000. Commisssion 2% on Sales +20% of gross sales less all commission exceeds invoice value. amount of commission will be.
Ans: Rs. 3083

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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11 September 2010
Actual cost of goods sold Rs.75000

Sales vaule Rs.85000

Normal 2 % commission on Rs.85000 = Rs.1700

Further comission is Gross sales Rs.85000 less actual invoice cost is Rs.75000 balance is Rs.10000 and less Rs.1700 normal commission(85000-75000-1700)= Rs.8300

Son 8300 x20/120=1383

Total commission is = 1700+1383 = 3083

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