Question

Narendra Dube of Poona sent 1,000 units of stainless steel vessels to Girja Shankar of Hyderabad to be sold on consignment basis. The terms were that Girija Shanker would get 5% commission plus 2% del credere commisson and be reimbursed for expenses incurred. The cost of Narendra Dube was * 50 per unit. He incurred 500 as packing and forwarding charges. On receipt of the consignment Girja Shanker accepted a bill for 25,000 payable after three months. Girja Shanker also paid 1,200 as freight and cartage and 800 as rent and insurance. Girja Shanker sold 900 units at 80 per unit. One quarter of the sales were on credit. One customer failed to pay the amount of 2,000 due from him. Girja Shanker remitted the necessary amount to Narendra Dube. Give the necessary ledger accounts in the books of both parties. (Ans : Profit 19,630, Amount remitted 39,960, Consignment stock 5,170) LAT​

Answer 1

Explanation:

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