1. Mr. Jasim consigned 1,000 cans of oil costing Rs. 900 each to Mr. Irfan for sale on commission basis @ 15% on gross sales.
2. 
   
3. He paid packing and freight charges of Rs. 20 per can. Mr. Irfan sent an account sale to Mr. Jasim which showed that 950 cans @ Rs. 1000/can were sold and incurred the following expenses: Cartage Rs. 6,000, Warehouse Rent Rs. 2,500 and selling expenses Rs. 4,000. 
4. He enclosed a bank draft for the balance due to consignor also.
5.  You are required to prepare the consignment A/c and Consignee's A/c in the books of Consignor.

Answer rating: 100% (QA)

Consignment Account in the books of Consignor Dr Cr To Goods sent on consignment 1000 Cans Rs 900 To ... View the full answer