Consignment Accounts-cpt.
This query is : Resolved
07 May 2010
plz solve this problem with clear steps:
"A"of Mumbai sold goods to "B" of delhi,the goods are to be sold at 125% of cost which is invoice price.commission 10% on sales at IP and 24% of any surplus realised above IP.10% of goods sent out on consignment,invoice value of which is Rs.12,500 were destroyed.75% of the total consignment is sold by B at 1,00,000.What will be the amount of commission payable to B?
"A"of Mumbai sold goods to "B" of delhi,the goods are to be sold at 125% of cost which is invoice price.commission 10% on sales at IP and 24% of any surplus realised above IP.10% of goods sent out on consignment,invoice value of which is Rs.12,500 were destroyed.75% of the total consignment is sold by B at 1,00,000.What will be the amount of commission payable to B?
CA. PRASAD
(Expert)
18 May 2010
Total Invoice price = 12500/10*100 = 1,25,000
sales (75% of 125000) = 93,750
Com. 1. 10% of 93750= 9,375
2. 25% (1,00,000-93750) 1,500
Total Com. 10,875
sales (75% of 125000) = 93,750
Com. 1. 10% of 93750= 9,375
2. 25% (1,00,000-93750) 1,500
Total Com. 10,875
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