Question

On 1st January, 2017 Govinda of Ghoshpara sends 300 chests of rare medicines to Sankar of Simla on
consignment basis. The cost of each chest was ₹1,000 only.
Gobinda incurred the following expenses on the Consignment:
₹750 on Railway Freight and ₹450 on Insurance.
Sankar spends ₹1,200 on various accounts when the chests reached Simla. 200 chests were sold by
Sankar uniformly at ₹2,000 per chest. Out of these 10 chests were sold to a party on credit and this
transaction ultimately proved bad. Besides another party deducted ₹300 because of a dispute regarding
quality.
Sankar sent an Account sales on 30 th June,2017 which revealed the charge 5% as ordinary commission and 10% as del-credere commission. The Consignee sent a sight draft for ₹90,000.
You are required to give in the Govinda's books :
(i) Consignment Account
; (ii) Sankar's Personal Account.
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Answer 1

Answer:

profit on consignment Rs . 137700