A Ltd. consigned goods worth Rs.6 lakhs at invoice price to B Ltd. Loading is 20%...

 

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A Ltd. consigned goods worth Rs.6 lakhs at invoice price to B Ltd. Loading is 20% of cost price. 10% of the goods got damaged in transit. Consignor expenses is Rs. 20000 Consignee took the delivery of remaining goods incurring the expenditure of Rs. 30000. 10% of the goods received was lost in transit. 20% of the goods in godown was destroyed by fire. Godown rent is Rs.120000 p.a. Unloading charges of the goods is Rs.30,000 Consignee sold 70% of the remaining goods at the Invoice price. Consignee's commission is 10% of the goods sold. Stock turnover is 6 months. Prepare the Consignment A/C for the period in which the sales was incurred. Note: Remaining goods were returned by the consignee. I A Ltd. consigned goods worth Rs.6 lakhs at invoice price to B Ltd. Loading is 20% of cost price. 10% of the goods got damaged in transit. Consignor expenses is Rs. 20000 Consignee took the delivery of remaining goods incurring the expenditure of Rs. 30000. 10% of the goods received was lost in transit. 20% of the goods in godown was destroyed by fire. Godown rent is Rs.120000 p.a. Unloading charges of the goods is Rs.30,000 Consignee sold 70% of the remaining goods at the Invoice price. Consignee's commission is 10% of the goods sold. Stock turnover is 6 months. Prepare the Consignment A/C for the period in which the sales was incurred. Note: Remaining goods were returned by the consignee. I

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Consignment AC Period of sales Particulars Debit Credi... View the full answer