Question

25. O 1 January 2010 Pranav consigned 500 Water Pumps costing Rs200 each of an inovice price Rs. 250 each to Kirit :
Pranav incurred following expenses :
Freight
Rs. 1,000
Insurance
Rs. 1,500
Kirit is entitled to get 10% commission on total sale and 5% del
commission on credit sale. Pranav wrote a bill on Kirit for Rs. 50000 and that bill was discounted for Rs. 49500.
Kirit send following information :
1. 300 water pumps sold for each of Rs. 300.
2. 100 water pumps sold on credit each of Rs. 350.
3. 40 water pumps to Pramod (on recommendation of pranav) each of Rs. 300.
4. 10 water pumps were totally damaged and insurance company accepted the claim for 50% amount.
5. Kirit paid following expenses :
Clearing charges Rs. 1000
Wages Rs. 2000
Packing-selling expenses Rs. 900
Kirit sent bank draft for the payment due.
Prepare consignment account. ​

Answer 1

Answer:

25. O 1 January 2010 Pranav consigned 500 Water Pumps costing Rs200 each of an inovice price Rs. 250 each to Kirit :

Pranav incurred following expenses :

Freight

Rs. 1,000

Insurance

Rs. 1,500

Kirit is entitled to get 10% commission on total sale and 5% del

commission on credit sale. Pranav wrote a bill on Kirit for Rs. 50000 and that bill was discounted for Rs. 49500.

Kirit send following information :

1. 300 water pumps sold for each of Rs. 300.

2. 100 water pumps sold on credit each of Rs. 350.

3. 40 water pumps to Pramod (on recommendation of pranav) each of Rs. 300.

4. 10 water pumps were totally damaged and insurance company accepted the claim for 50% amount.

5. Kirit paid following expenses :

Clearing charges Rs. 1000

Wages Rs. 2000

Packing-selling expenses Rs. 900

Kirit sent bank draft for the payment due.

Prepare consignment account.

Explanation:

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