Question

Kiran of Rampur sent 45 Mobile Phones each costing 25000 to Rohit of Hyderabad to be sold on consignment basis. He incurred following Expenses: Freight: 3000, loading charges: 2500 and insurance: 18000. Rohit sold 40 Laptops for 1300000 and paid 12000 as shop rent which is to be borne by Kiran as per terms and Conditions of Consignment. Consignee is entitled for a commission of 300 per mobile sold. Assuming that, Rohit settled the account by sending the bank draft to Kiran. Prepare necessary ledger accounts in the book of Kiran and Rohit.​

Answer 1

Answer:

mobile price aqwal 245 costing 25000 to 25000 - 3000 equal to 2500 multiply 18000

Answer 2

Answer:Cost price of article = Rs. 15,500

Cost of repair = Rs. 450

∴ Total cost of article = Rs. (15500+450) = Rs. 15,950

Profit on selling article =15%

∴ Profit (Rs.) =  

100

15

​

×15,950=2392.5

Selling Price = Cost Price + Profit

∴ Selling Price = 15950+2392.5=Rs.18342.5

Explanation: