Accountancy, asked by nikhataaraaara5, 9 months ago

Modi textiles, Delhi consigned to Vinod Enterprises, Calcutta 100 cotton bales. The invoice
price of each bale was Rs 1500 each which includes 20% profit on invoice price. The consignor
paid Rs. 2500 for insurance and Rs 4000 for carriage and freight. The consignee received cotton
bales and sold 75 bales for cash and realised Rs 112500. He incurred Rs 1800 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. (20)

Answers

Answered by anamkhurshid29
1

HEYA MATE YOUR ANSWER IS

cotton

bales and sold 75 bales for cash and realised Rs 112500. He incurred Rs 1800 on godown rent

and was allowed

HOPE THIS HELPS ❤️

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Answered by lodhiyal16
0

Answer:

Explanation:

Modi textiles, Delhi consigned to Vinod Enterprises, Calcutta 100 cotton bales. The invoice

price of each bale was Rs 1500 each which includes 20% profit on invoice price. The consignor

paid Rs. 2500 for insurance and Rs 4000 for carriage and freight. The consignee received cotton

bales and sold 75 bales for cash and realised Rs 112500. He incurred Rs 1800 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.

Books of modi textiles

To goods sent on consignment       150000

To Cash                                                   2500

To Carriage                                                 4000

To Vinod enterprises A/c

- Rent                                                          1800

- Commission                                             11250

To stock  Reserve A/c                                 6000

To profit & loss A/c                                        2162

Total                                                            177712

By Goods Sent on consignment            30000

By Vinod Enterprises                            112500

By Stock on Consignment                      35212

Total                                                     177712

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