Please help me in solving one consignment problem.

CPT 17194 views 26 replies
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student
26 Points Joined December 2010
consignment stock as per invoice price
when profit percentage is given on invoice price it should be found out as given below:
cost price=100000*20/80=25000,therfore IP=125000(100000+25000)
LOST IN TRANSIT=125000*1/10=12500
balance goods=112500(125000-12500)
1/2 of the goods were sold=112500/2=56250,therfore the remaining half is unsold
consignment stock(unsold stock)=56250
 
when consignment stock is found as per cost price the answer vl be 45000
therefore stock reserve on consignment stock vl be=56250-45000=11250
hope u understand the solution...........
 
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On 28 December 2010 at 13:15 Report
Replies (26)
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student
26 Points Joined December 2010
consignment stock as per invoice price
when profit percentage is given on invoice price it should be found out as given below:
cost price=100000*20/80=25000,therfore IP=125000(100000+25000)
LOST IN TRANSIT=125000*1/10=12500
balance goods=112500(125000-12500)
1/2 of the goods were sold=112500/2=56250,therfore the remaining half is unsold
consignment stock(unsold stock)=56250
 
when consignment stock is found as per cost price the answer vl be 45000
therefore stock reserve on consignment stock vl be=56250-45000=11250
hope u understand the solution...........
 
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On 28 December 2010 at 13:15
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student
26 Points Joined December 2010
consignment stock as per invoice price
when profit percentage is given on invoice price it should be found out as given below:
cost price=100000*20/80=25000,therfore IP=125000(100000+25000)
LOST IN TRANSIT=125000*1/10=12500
balance goods=112500(125000-12500)
1/2 of the goods were sold=112500/2=56250,therfore the remaining half is unsold
consignment stock(unsold stock)=56250
 
when consignment stock is found as per cost price the answer vl be 45000
therefore stock reserve on consignment stock vl be=56250-45000=11250
hope u understand the solution...........
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On 28 December 2010 at 13:18
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student
26 Points Joined December 2010
Goods sent on consignment invoice value 2,00,000 at cost+33 1/3%.1/5th of the goods were lost in transit.Insurance claim received rs 10,000.the amount of abnormal loss to be transferred to general P&L a/c is ? ans is Rs 20,000 .  can anyone help me in solving this question.......
 
and i have posted my previous reply twice...if anyone knows how to delete the reply that is posted more than once plz let me know.......
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On 28 December 2010 at 15:07
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articled trainee
1477 Points Joined July 2010

well majeetha,

in the first problem instead of following such a long process . it is very simple 20 pc on invoice price means 25 pc on cost so . the stock reserve vl be 45000*25pc = 11250

in the second sum 200000*1/5 =40000  i,e 33.13 pc on cost means 25 pc on sales . 40000*25pc  =10000

40000-10000 -insurance claim =20000

.33.13/133.13*100 =25 pc follow the same procedure for others .

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On 28 December 2010 at 19:49
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student
26 Points Joined December 2010
I knew dat it was a long process but i got the answer only after doing all those workings, anyways thank you for the simple procedure and solution for the 2nd sum......
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On 28 December 2010 at 22:32
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articled trainee
1477 Points Joined July 2010

ur welcome

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On 29 December 2010 at 11:58
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--------------------
21 Points Joined March 2011

X of kolkatha sends out 400 baga to Y on delhi costing rs200 each. consignor exps rs 2000. Y exps non selling rs 2000, selling rs 1000. 300 bags were sold by Y. value of consignment stock is

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On 29 March 2011 at 16:34
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A
27 Points Joined September 2013

i have a doubt on certain questions of consignment plz answer me quickly ////  

Q1. 1000 kg apples are consigned to a wholeseller . the cost being is rs 3 per kg . rs 40 of freight . its known that a loss of 15 % is unavoidable . the cost per kg will be.

Q2. DRAVID of delhi sends outs goods to sourav of kolkata . goods costing rs 20000 at cost + 25 % with the instructionm to sell it at cost + 50% . if 4/5 of the goods are sold at stipulated selling price and commision allowable 2% sales .. what will b the profit on consignment ion the books of consignor ?

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On 11 February 2014 at 21:12
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Student
21 Points Joined December 2014

X consigned 100 boxes of mangoes each box costing Rs.400/- to Y.X incurred Rs1500/- towards transportation and insurance.Y paid Rs.500/- as godown rent & Rs.1000/- as selling expenses.Due to weather conditions 10 boxex were totally spoiled and were not fit for consumption.Y sold 70 boxes @ Rs.550/- per box.Find the profit on consignment sales?

Answer:-Rs.4722/-

Can anyone help me in soving this problem PLEASE....

 

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On 04 December 2014 at 17:13
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student
21 Points Joined December 2014

A sends out goods costing 200000 to B. consignor's expenses 5000 consignees expenses in relation to sales 3000 4/5th of goods sold at 20% above cost the profit on consignment

ans:25000
CAN ANYONE HELP ME IN SOLVING THIS PROBLEM
 
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On 09 December 2014 at 22:52
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2 Points Joined August 2018
Cost of 3/5th goods = 60,000 Sale value= 70,000 Commission= 2% on sales = 1400 Difference =10,000 10,000- 1400= 8600 8600×20÷120= 1433.333... Total commission= 1400+1433.333 2833.333.... Here in problem given on IP 20% , On cost = 16.66..... it means 20÷120
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On 06 December 2018 at 14:15
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2 Points Joined June 2019
A and B who share profit and losses in the ratio of 3 : 2 has the following balances capital of A rupees 50000 and capital of B rupees 30000. reserve funds 15000. they admit C as a partner, who contributes to the firm rs 25000 for 1/6th share in the partnership. if C is to purchase 1/6th share in the partnership from the existing partners A and B in the ratio of 3:2 for rs 25000. find closing capital of C
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On 24 June 2019 at 16:43


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