Modi textiles, Delhi consigned to Vinod Enterprises, Calcutta 100 cotton bales. The invoice price of each bale was Rs 1,500 each which includes 20% profit on invoice price. The consignor paid Rs. 2,500 for insurance and Rs 4,000 for carriage and freight. The consignee received cotton bales and sold 75 bales for cash and realised Rs 1, 12, 500. He incurred Rs 1,800 on godown rent and was allowed 10% commission on sales. 5 cotton bales were spoiled in godown and they are to be valued at 50% depreciation. Show consignment account in the books of Modi Textiles.
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total =180125
abnormal loss - 6325
inventories- 31300
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