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?
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
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- About TDS & Income Tax
- Section 194JA & JB Income which ITR Form to use
- Pass word to open justification report for Q1 for FY 2026-27
- PPF interest-As Exempt Income disclosure
- Under construction property in ITR
- Scrutiny and reopening of past returns
- Booth for sales promotion
- Upload Level ValidationITR3Category of Defect B/D
- Building tax payment deduction in rental Income
- F & O PROFIT REPORTING FOR AY 2026-27
- Difference in GSTR3B system generated which is correct and actual Payment it asks
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Taxation in the hands of Landowner under JDA
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
