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
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 ❤️
PLEASE MARK AS BRAINLIEST ❤️❤️
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