On 8 February, 2014 Jack, an Accra trader, consigned 120 cases of goods to John, an...

Transcribed Image Text:

On 8 February, 2014 Jack, an Accra trader, consigned 120 cases of goods to John, an agent in Norway. The cost of the goods was GHC15 a case. Jack paid carriage to the port GHC194 and insurance GHC146. On 31 March 2014, Jack received an Account Sales from John, showing that 100 cases had been sold for GHC3,500 and John had paid freight at the rate of GHC1 per case, and port charges amounting to GHC172. John was entitled to a commission of 2% on sales. A sight draft for the net amount due was enclosed with the account sales. Required: Show the accounts for the above transactions in the ledger of Jack - Consignor. On 8 February, 2014 Jack, an Accra trader, consigned 120 cases of goods to John, an agent in Norway. The cost of the goods was GHC15 a case. Jack paid carriage to the port GHC194 and insurance GHC146. On 31 March 2014, Jack received an Account Sales from John, showing that 100 cases had been sold for GHC3,500 and John had paid freight at the rate of GHC1 per case, and port charges amounting to GHC172. John was entitled to a commission of 2% on sales. A sight draft for the net amount due was enclosed with the account sales. Required: Show the accounts for the above transactions in the ledger of Jack - Consignor.

Answer rating: 100% (QA)

To Goods sent for Collection 916 To Bank al T Carriage 194 146 1... View the full answer