banner_ad

Consignment accounts

This query is : Resolved 
Profile Image

Profile Image

(Querist)
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.
Profile Image

Mohd Tahir Khan

Profile Image

Mohd Tahir Khan (Querist)
31 October 2013 anyone pls help ....
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
Featured 02 May 2026
Senior Executive

hitesh chandwani & co

Pune

B.Com

View Details
Company
Featured 29 April 2026
Manager- Finance and Compliance

Naveen Fintech Pvt Ltd

Kolkata

CA Inter

View Details
Company
Featured 14 April 2026
GST CONSULTANT

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 13 April 2026
GST CONSULTANCY

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 28 March 2026
Accountant

Ashok Amol & Associates

New Delhi

B.Com

View Details
Company
Featured 28 March 2026
CA Final

Ashok Amol & Associates

New Delhi

CA Final

View Details
Company
Featured ARTICLESHIP 19 March 2026
Article Assistant

Gupta Sachdeva & Co. Chartered Accountants

New Delhi

CA Final

View Details
Company
Featured 14 March 2026
Associate CA

N N V Satish&co

Hyderabad

CA

View Details