Question

6. Sri Mehta of Mumbai consigns 1,000 cases of goods costing 100 each to Sri Sundaram of Chennai. Sri Mehta pays the following expenses in connection with the consignment: Carriage 21,000; Freight 3,000; Loading charges 1,000. Sri Sundaram sells 700 cases at 140 per case and incurs the following expenses : Clearing charges 850; Warehousing and storage 1,700; Packaging and selling expenses 600. It is found that 50 cases have been lost in transit and 100 cases are still in transit. Sri Sundaram is entitled to a commission of 10% on gross sales. Draw up Consignment Account and Sundaram's Account in the books of Sri Mehta. Solution​

Answer 1

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