Question

Show consignment account and the account of the consigne
Mr. Midhya.
UNSOLD STOCK BOTH AT OPENING DATE
AND CLOSING DATE
• Mehdi sold goods on behalf of Thukral & Co. on consignment basis. On 1st January
2017, Mehdi had with him a stock valued at $20,000 on consignment.
Mehdi had instructions to sell the goods at cost plus 25% and was entitled to
commission of 4% on sales, in addition to 1% del credere commission on total sale
for guaranteeing collection of all sale proceeds.
During the year ended 31st December, 2017, cash sales were 1,20,000, credit sale
1,05,000 and Mehdi's expenses relating to the consignment ; 3,000 being salari
and insurance ; Bad debts were 3,000 and goods sent on consignment * 2,00,000
You are required to prepare consignment account in the books of Thukral & Ço.
ABNORMAL Loss OF GOODS
Mumbai sent goods worth 12,000 to B of Delhi to be sold on commissi ​

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