ram of delhi sends out goods costing 200000 to krishna consignors expenses 5000 consignees expense in relation to sales is 2000 4/5th of goods were sold at 20% above cost profit on consignment will be ? ans 26000
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The consigner: Goods on Consignment Rs. 200,000 Expenses Rs. 5,000 When 4/5th sold then: Sales Price Rs. 192,000 less: CGS Rs. 160,000 Rs. 164,000 4/5th of 5,000: 4,000 ____________ Profit Rs. 28,000 Consignee will deduct their expense before transfer money to consigner in relation to sale: then the Net profit would be Rs. 28,000 - 2,000 = Rs. 26,000
For the consigner:
Goods on Consignment Rs. 200,000
Expenses Rs 5,000
When 4/5th sold then:
Sales Price Rs. 192,000
CGS Rs 160,000 + Rs 164,000
4/5th of 5,000 4,000 ____________
Rs 28,000
Consignee will deduct their expense before transfer money to consigner in relation to sale: then the profit would be Rs. 28,000 - 2,000 = 26,000
*** Please note that calculations are done based on available information and Consignee's commission is not included
|
consignment account 200000 goods sent on consignment consignor exp 5000 consignee exp 2000 26000 profit on consignment total 233000
|
sales 192000 unsold stock 41000 total 233000 |
sale= cost price + 20% on cost=200000+1/5 on 200000=240000
4/5th goods sold=240000*4/5=192000.
consignment stock 200000*1/5=40000
+ consignor exp= 5000*1/5=1000=total=41000.
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