Question

A company 20000 kgs ojl to B. the invice price of each kg was ₹ 80 being cost +25%. the consinor paid 16000 as freight ₹20000 as packing charges and ₹4000 as insurance. 3000 kgs of oil was lost in transit company accept the claim of ₹70000. the consinee sells 12000kgs of Oil at ₹100 per kg. he also reported a loss of 1000 kgs due to leakage which was accept and allowed as normal loss.the comsinee's expenses was ₹4000 as go down rent snd ₹2000 on sales expenses. the commission was 7.5%on sale. prepare consignment account and abnormal loss account
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Answer 1

Answer:

It all ties back to the fundamental way banks make money: Banks use depositors' money to make loans. The amount of interest the banks collect on the loans is greater than the amount of interest they pay to customers with savings accounts—and the difference is the banks' profit.