Question

please tell me ans tommow exam
Q14) The consignor consigned goods worth Rs. 20,000 to the consignee and paid expense of

Rs. 1,000. Consignee paid Rs. 500 for freight and octroi. What will be the value of closing

stock if 30% of the goods are unsold?

(A) Rs. 6,450 (B) Rs. 6,000 (C) Rs. 6,150 (D) Rs. 6,300

Q15) The abnormal loss of Rs. 20,000 occurred in consignment business. The insurance

company accepted 40% claim. What amount will be credited to consignment account?

(A) Rs. 8,000 (B) Rs. 20,000 (C) Rs. 12,000 (D) Rs. 17,500

Q16) For an independent branch, H.O. A/c is like –

(A) P and L Account (B) Real Account

(C) Capital Account (D) Nominal Account​

Answer 1

Explanation:

14 ans Value of Closing Stock = Cost + Proportional Expenses = 20% [Rs. 20,000 + {Rs. 1,000(expense) + Rs. 200(freight) + Rs. 100(octroi)} = 20% [Rs. 20,000 + Rs. 1,300] = 20% (Rs. 21,300) = Rs. 4,260.

Note: Since 80% of the goods were sold, 20% of the goods remain as closing stock.