Pls need help :)

600 views 1 replies
X sent out goods at invoice value of Rs2,50,000 to Y at 25% profit on cost price.Consignor's expenses Rs 25,000, Consignees Expenses-Non reccuring Rs 17500, selling expenses Rs 2,500. 1/10th of the goods were lost in transit. 9/10th of the balance goods were sold. The amount of stock reserve on consignmenmt stock will be:
a) 16,200
b)45,000 (answer for this question asper text book is C(40500) but as per me the answer is B(45000))
c)40,500
d)none (please tel me if my answer is correct??)
 
Q2) Opening Consignment stock Rs 20,000. Goods sent out on consignment RS 4,00,000. Consignors expenses Rs 10,000. Consignees expense in relation to sales Rs 4,000. Cash sales Rs 2,00,000, Credit sales 2,20,000.. Ordinary commission payable to consignee Rs 5,600 Del-credre commission 2%. The amount irrecoverable from customer Rs 4,000. What will be the profit on consignment??
a)76,000
b)80,000 (answer as per text book is A(76000) and answer as per my calculations is C (72000)
c)72,000
d)86,000 PLS tel me if my answer is correct ?? if no then y???)
 
Q3) X sent out goods costing Rs 4,00,000 to Y. Consignor expenses Rs 10,000. Consignees Expenses in relation to sales Rs 4,000. 4/5 th of the goods were sold at 20% above cost. The profit on consignment will be:
a) 52,000
b)64,000
c)52,400
d)(12,000) wat is the answer??? i tried but didnt find the answer pls help ???
 
Replies (1)

Answer for the question is actually Rs.4500.

Stock Reserve : (250000 x 9/10) x 1/10 = 22500 x 25/125 = 4500

We have to make stock reserve equivalent to profit margin contained in closing stock.  Profit margin is 1/4 on cost and 1/5 on invoice value.  

You may ask such question from me on www.jbsclasses.com

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
ARTICLESHIP 30 June 2026
Taxation Content Writer Intern

Interactive Media Pvt Ltd.

New Delhi

CA Inter

View Details
Company
ARTICLESHIP 24 June 2026
CA Article Trainee

Rahul Dang & Associates

Pune

CA Inter

View Details
Company
ARTICLESHIP 24 June 2026
ARTICLE ASSISTANT

BHUPINDER SHAH AND COMPANY

New Delhi

CA Inter

View Details
Company
ARTICLESHIP 27 June 2026
Article

SNCO

Mumbai

CA Inter

View Details
Company
16 July 2026
Manager - Finance & Accounts

Aliens Group

Hyderabad

CA Final

View Details
Company
ARTICLESHIP 16 July 2026
Article Assistant

Sahil Agarwal & Company

Mumbai

CA Inter

View Details
Company
29 June 2026
Accountant (Finance & Compliance)

TRIEYEZ

Kolkata

CA

View Details
Company
22 July 2026
Senior Chartered Accountant

SKSS

Patna

CA

View Details