Question

[Ans. Pront - 10,000; Final Settlement 37,360.
2. Sadiq of Srinagar purchased 1,000 kgs. of Kashmir silk at * 60 per Kg. and sent it to
Desai of Pune to be sold on consignment. Sadiq paid * 2,000 towards packing charges
etc. Desai received the consignment and paid 5,000 as freight charges. Sadiq drew
a bill upon Desai for 50,000. Desai sold 900 Kgs. @ 90 per kg. and paid $2,500 as
sales expenses. Desai took over the remaining quantity for $6,500. He is to be allowed
a commission on gross sales at 10%.
Prepare the ledger accounts in the books of both the parties.
[Ans. Profit on consignment 9,250; Final balance *21,250]​

Answer 1

ns. Pront - 10,000; Final Settlement 37,360.

2. Sadiq of Srinagar purchased 1,000 kgs. of Kashmir silk at * 60 per Kg. and sent it to

Desai of Pune to be sold on consignment. Sadiq paid * 2,000 towards packing charges

etc. Desai received the consignment and paid 5,000 as freight charges. Sadiq drew

a bill upon Desai for 50,000. Desai sold 900 Kgs. @ 90 per kg. and paid $2,500 as

sales expenses. Desai took over the remaining quantity for $6,500. He is to be allowed

a commission on gross sales at 10%.

Prepare the ledger accounts in the books of both the parties.

[Ans. Profit on consignment 9,250; Final balance *21,250]

soory I didn't know that answers