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Accountancy: plz solve

CPT 1514 views 9 replies

X consignes Y 2000 boxes costing Rs100 each. X's expenses Rs5000. 1/10 of boxes were lost in Y's godown as treated as normal loss. 1200 boxes were sold by Y. the value of consignment stock

a) 68333 

b)61500

c)60000

d)60250

1000 boxes of Rs  100 and invoice price Rs 120 is consigned goods sent on consignment 2 b cr in trading a/c is

a)100000

b)120000

c)20000

d) none

balance of goods sent on consignment will be trasferred to

a)p/l

b)trading

c)balance sheet

Replies (9)

=(200000+5000)/1800=113.88*600=68333

 

 

3 q. trading A/c

2. 120000

1.a

2.a

3.b

1. ( A )  =  2000*100+5000/2000-200 ( 2000/10 ) * 600 = 68333

2. ( A ) 

3. ( B )

 

 

1.205000/(2000-200)*600

2.only the cost is deducted from from purchase

3.purchase 

Originally posted by : sumit

1.a

2.a

3.b

This is the correct answer

1st one why is it not (600*100)+(600*5000/2000)=61500?

Originally posted by : preity

1st one why is it not (600*100)+(600*5000/2000)=61500?


Because the cost of normal loss should be adjusted to good units. Here 600 units cost is not Rs 100 it will be increased to 111.18 and the proporation of X exepenses will also be added to it i.e Rs.2.7 summing to  113.88 which results in Consignment stock as 113.883 * 600 = 68333 (app).

regards

vamshi

yea got it i will explain clearly

Cost of total goods sent  (2000*100) = 200000

ADD :- consignor exp   =5000

                                             ____________

                                                205000 = total cost

given that 1/10 th of the goods is lost = 2000* 1/10  = 200

so 2000-200 = 1800 remaining stock

given that 1200 were sold ie 1800 - 1200 = 600 unslold stock

 

here we need to calculate the COst per unit 

total cost = 205000

remaing sotck = 1800

ie 205000 / 1800 =113.888

we need to know for 600 goods  = 113.888 * 600 = 68332.8 approx 68333


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