Question

9. Rahim of Mumbai consigned 4,000 kgs, oil to Raju of Chennai. Each kg, oil cost 10. Rahim paid ? 800 for carriage, 1,400 for freight and ? 1,250 for insurance in transit. During transit 400 kgs, oil was accidentally destroyed for which insurance company paid ? 2,000 directly to the consignor in full settlement of the claim, Raju reported that 3,000 kgs, oil was sold @ ? 15 per kg. Expenses incurred were as follows: Godown Rent ? 800 and Salesman's Salary 3 1,200. He was entitled to a commission of 5% on sales. He also reported a loss of 50 kgs, oil due to leakage in transit, Prepare necessary accounts in the books of Rahim assuming that Raju settled his account by means of a bank draft,​

Answer 1

Answer:

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