plz help!!!
Ram of Kolkata sends out 800 bags to Pooja costing Rs 300 each at an invoice price of Rs 500 each. Consignor's A/c expenses Rs 4000 consignee's expenses, non-selling Rs. 1000 selling Rs. 2000. 400 bags were sold. The amount of stock reserve will be ?
THE ANSWER IS 80,000(400*200).IN STOCK RESERVE NO EXPS R TO BE COUNTED.ONLY THE UNSOLD STOCK WHICH IS 400 & DIFFRENCE B/W INVOICE & ORIGINAL VALUE IS CONSIDERED.
in consigment a/c
credit side reserve amount on goods send invoice is = 800*200 = 160000.
debte // // // // closing goods is 400*200 = 80000
O P Bagla & Co LLP
New Delhi
CA Inter
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A R JADHAV AND ASSOCIATES
Mumbai
CA Inter
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