Question

On 1st September goods of the cost of ₹ 2,64,000 were consigned by G of Chidambaram to his
agent A of Chennai at proforma invoice price of 20% profit on cost price. G paid insurance and
other forwarding charges on consignment amount to ₹ 10,000. A was allowed ₹ 2,000 being

establishment cost. She was entitled to 5% commission on gross sales and additional 3% Del-
credre commission on credit sales only. A made an expense of ₹ 2,040 as landing charges.

Three fourth of the goods were sold at 33 1/3 % profit on cost, half of which were credit sales.
One half of the balance of goods were destroyed by fire and a claim lodged for ₹ 28,000 was
settled at a discount of 10%. The balance of goods was in stock. Show the consignment account
and the stock loss on consignment account as on 31st December in the books of G.

Answer 1

Answer:

Explanation:

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