Canodia Oil Mills, Delhi consigned 500 tins of vanaspati ghee to Aggarwal Bros.,
Jalandhar. Each tins cost * 132 @ 8 per kg. Canodia Oil Mills paid 50 as carriage * 250
as freight and * 200 as insurance in transit. During transit 330 kgs. of ghee was
accidentally destroyed for which the insurance company paid, directly to the consignors,
* 1,250. The damaged tins were sold by Aggarwal Bros. at * 1,100. After three months
from the date of consignment of goods; Aggarwal Bros., reported that 410 tins were sold at
150 per tin and expenses being on godown rent 1,500; labour charges 500. Aggarwal
Bros. are entitled to commission of 4% and 1% del credere. Consignee reported a loss of 33
kgs. due to leakage. Assuming that Aggarwal Bros. paid the amount due by bank draft,
show Necessary Accounts in the books of both the parties.
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