Question

A & Co. of Kolkata sent goods of the invoice value of ` 80,000 on consignment basis to B. & Co. of

Kanpur. Invoice value was made by adding 331

/3% on cost. A & Co. paid ` 1,800 for Railway Freight,

` 360 for Carriage and ` 1,200 for Insurance for sending the goods. B & Co. sold ½ of the goods at

` 50,000, incurring a bad debt of ` 8,400. B & Co. paid Landing Charges ` 600, Godown Rent ` 750 and

Selling expenses ` 840. B & Co. is entitled to an ordinary commission @5% and a Del Credere

commission @2½% on sales.

Show following accounts in the books of A & Co. –

(a) Consignment Account

(b) B & Co. Account.​

Answer 1

Answer:

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