Exercises
1. Dutt sends 100 radio sets to Ray to be sold on Consignment basis.
Dutt spends Rs. 300 on packing, etc. The cost of each set is Rs. 150,
Ray sends a bank draft as advance to Dutt for Rs. 10 000 as advance. We
spends Rs. 800 on freights, Rs. 200 on salesmen's salary and Rs. 150 as rent and
insurnnce,
Ray sells all the sets Rs. 200 each. He is entitled to a commission of
10% on sales. He settles his account. Prepare the Account Sales and various
ledger accounts in the books of both Dutt and Ray.
(Profit on Consignment, Rx 1,550)
No answers have been given to this question yet :(
Similar questions