Question

32.
Bhalla Consigned 40 machines to Raman on 1st January, 2016 on the following terms:
(a) All machines were to be sold at 20% above the cost of 10,000. Any deficit in selling price is
to be borne by Raman and is to retain 50% of any surplus price realised.
(6) Raman is to be paid 3% commission and 2% del-credere commission on all sales.
Bhalla incurred freight charges of 40,000 in consigning the machines.
Raman sent the following Account Sale on 31st December, 2016:
10 machines sold @ 12,000 each.
5 machines sold @ 10,000 each.
15 machines sold @14,000 each
Raman had incurred unloading charges of 4,000 and selling expenses of * 6,000. He had
collected the entire sale proceeds except 2,000 which had become a bad debt. Raman sent a bank
draft for the net amount due to Bhalla.
On 30th June, 2017, Raman sent a further Account Sale disclosing 10 machines sold at
12,000 each. Selling expenses were 1,500. He also sent a draft for the net amount due.
Bhalla closes his books on 31st December each year. Write up the ledger accounts in the books of
Bhalla for the years 2016 & 2017.
[Ans. Consignment Profit - 2016: 17,000 ; 2017: * 1,500]​

Answer 1

Answer:

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