Programme Code : BDP
Course Code : eco-02
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Year : 2013 Views: 1356 Submitted By : sumita On 10th March, 2013

Do you have solution for this Question. If yes    I aslo want solution.

Q.Aof surat consigns goods to B of jaipur to be sold at or above invoice price. B is entitled to get a commission of 8% on sales at invoice price plus 24%of any surplus price realized. B accepted a bill of exchange drawn by A amounting to 50%

amounting to 50% of the invoice price.
In the year 2010 goods consigned by A were invoiced at Rs.250000. these goods cost to A rs. 200000(including freight). sales made by B during the year amounted to Rs.235000.
At the end of the year, goods unsold with B represented an invoice value of rs. 60000. during the year, A had received from B Rs.40000
by bank draft,certain remittances being in transit on 31st DEC., 2010. prepare necessary ledger accounts in the book of both the parties.
also show how the consignment stock will appear in the balance-sheet.
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