Ravi consigned goods to Suraj costing Rs. 100000. The Proforma invoice was made
to show a profit of 25% on cost. Ravi paid freight, insurance Rs. 2000. Suraj sold
part of consignmen
t for Rs. 88000 at a uniform price of 10% over invoice price and
spent Rs. 3000 as warehousing charges, Rs. 1000 as selling expenses. Suraj is
entitled to a commission of 5% on sales and 20% of the net profit after charging
such commission on sales. Suraj
paid the amount due by bank draft. Draw up the
consignment account in the books of Ravi with appropriate working notes
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