Question

Ram Das of Hyderabad consigned goods costing Rs. 72,000 to Prakash of Cochin at a pro-forma invoice price which is cost plus a profit of 1/6th on invoice price. The consignor paid Rs. 1,800 as insurance and other charges. Prakash received the goods and paid Rs. 3,000 for freight and other chapaid

d for Rs. 8,000 and was settled for Rs. 7,000. Balance of stock was valued at proforma invoice price. Write up the Consignment and the Abnormal Loss Accounts.​

Answer 1

Answer:

Explanation:

2600parkash jha

Answer 2

Given :

Accounts of Ram Das

To Find :

To write the Consignment and the Abnormal Loss Accounts.​

Solution :

a)

Particular 1 : To goods sent on consignment A/C

Amount : 86,400

Particular 2 : To Bank A/C ( consigners expenses)

Amount :  72,000

b)

Particular 1 : To Prakash (  Freight and other charges

Amount :  3,000

Particular 2 :  By Abnormal Loss

Amount :  9,600

c)

Particular 1 :  To Prakash (comission on sales )

Amount : 2,160

Particular 2 :  By consignment stock A/c (unsold stock )

Amount :  11,400

d)

Particular 1 :  To stock reserve A/C ( leading on closing stock )

Amount :  1,800

Particular 2 :  To goods sent on consignment A/C (Loading )

Amount : 14,400

Total amount of particular 1 : 1,07,400

Total amount of particular 2 : 1,07,400