Question

Raghubir & Co Delhi sent on consignment to his permanent agent Joy Jayanti Limited,
Mumbai on 1st October, 2016, 100 bales of woolen goods valuing ? 50,000, The Consignor
incurred 2,000 for Freight & insurance for Cartage & loading 500 and 1.500 for omen
expenses. On receipt of the goods in time and in good condition, the Consignee accepted and
remitted a bills payable of 30,000
Both Consignor and Consignee closed their accounts on 31st March every year and so
Joy Jayanti Ltd. sent Account Sales on 31st March, 2017 showing
() Cash Sales-50 bales a t 4780 per bale:
6). Credit Sales - 30 bales @ 800 per bale:
() Cash Collected from customers 22.400
(iv) Expenses include carriage to godown and dearing charge 2,500; Selling Expenses
5,000 Godown Rent ect 1.500,
(0) Amount due by a customer for 2 bales of goods is to be written off as bad debt, being died:
(vi) Commission is entitled 10% on total sales.
Show the Consignment Account and Consignee's Account in the books of Consignor.​

Answer 1

Answer:yes

Explanation:

ITs a big problem to answer. Type in google- consignment account + yourarticllibrary.com and you will find different problems on consignments. All the best.