Consignment accounts
This query is : Resolved
30 October 2013
Dear all pls help me about this. Ques.
A of surat consings goods to b of jaipur to be sold at or above invoice price . B is entiteled to gat a commision of 8%on sales at invoice price plus 25%-f any surplus realized .b accepted a bill of exchange drawn byA amounting to 50%of the invoice price.
In the year 2010 goods consigened by A were invoiced at rs250000.these goods cost to A rs 200000 inculuding freight .sales made by B during the yera amounted to rs 235000 at the end of the year goods unsold with B represented an invoice value of rs 60000. During the year A had recived fromB RS 40000 BY BANK DRAFT,certein remittances being in transit on 31dec 2010 prpare ledger in the book of both the parties . Also show how thw consigntement stock will appear in the balnce sheet.
A of surat consings goods to b of jaipur to be sold at or above invoice price . B is entiteled to gat a commision of 8%on sales at invoice price plus 25%-f any surplus realized .b accepted a bill of exchange drawn byA amounting to 50%of the invoice price.
In the year 2010 goods consigened by A were invoiced at rs250000.these goods cost to A rs 200000 inculuding freight .sales made by B during the yera amounted to rs 235000 at the end of the year goods unsold with B represented an invoice value of rs 60000. During the year A had recived fromB RS 40000 BY BANK DRAFT,certein remittances being in transit on 31dec 2010 prpare ledger in the book of both the parties . Also show how thw consigntement stock will appear in the balnce sheet.
31 October 2013
anyone pls help ....
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