Journal entries in consignee books
This query is : Resolved
01 October 2016
Sir / Maam,
Can any body give me the journal entries in consignee books.
Regards
Rupinder Kaler
Can any body give me the journal entries in consignee books.
Regards
Rupinder Kaler
07 October 2016
The entries to be passed in the books of consignee are as under:
1.0 Expenses paid on behalf of consignor
Consignor A/C Dr
To Bank
2.0 Advance sent to consignor
Consignor A/C Dr
To Bank
3.0 Sale made on behalf of consignor
Bank A/C Dr
To Consignor
4.0 Credit sale made on behalf of consignor
Debtors A/C Dr
To Consignor
5.0 commission charged to Consignor
Consignor A/c Dr
to Commission
6.0 Bad debts by debtor but to be borne by consignor
Consignor A/c Dr
To Debtors
7.0 Bad debts by debtor and not to be born by consignor
Bad debts A/C Dr
To Debtors A/C
8.0 cash received from debtors
Cash A/C Dr
To Debtors
9.0 Bad debts transferred to commission A/C
Commission A/C Dr
To Bad debts
10.0 Commission transferred to P&L Account
Commission A/C Dr
To P&L A/C
11.0 Payment to Consignor
Consignor A/C Dr
To Bank
12.0 B/p Accepted for consignor
Consignor A/C Dr
To B/P A/c
13.0 B/p paid
B/p A/c Dr
To Bank
1.0 Expenses paid on behalf of consignor
Consignor A/C Dr
To Bank
2.0 Advance sent to consignor
Consignor A/C Dr
To Bank
3.0 Sale made on behalf of consignor
Bank A/C Dr
To Consignor
4.0 Credit sale made on behalf of consignor
Debtors A/C Dr
To Consignor
5.0 commission charged to Consignor
Consignor A/c Dr
to Commission
6.0 Bad debts by debtor but to be borne by consignor
Consignor A/c Dr
To Debtors
7.0 Bad debts by debtor and not to be born by consignor
Bad debts A/C Dr
To Debtors A/C
8.0 cash received from debtors
Cash A/C Dr
To Debtors
9.0 Bad debts transferred to commission A/C
Commission A/C Dr
To Bad debts
10.0 Commission transferred to P&L Account
Commission A/C Dr
To P&L A/C
11.0 Payment to Consignor
Consignor A/C Dr
To Bank
12.0 B/p Accepted for consignor
Consignor A/C Dr
To B/P A/c
13.0 B/p paid
B/p A/c Dr
To Bank
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