Question

sri mehta of mumbai consigns 1,000 cases of good costing₹100 each to Shri Sundaram of Chennai. Sri Mehta pay the following expenses in connection with the consignment:
carriage ₹1,000;freight ₹3000; loading charges₹1,000.
Shri Sundaram sells 700 cases at ₹140 per case and incurs the following expenses:
clearing charges ₹850; warehousing and storage ₹ 1,700; packaging and selling expenses₹600.
It is found that 50 causes have been lost in transit and 100 cause are still in transit.
Sri sundaram is entitled to a commission of 10% on gross sale. Draw up consignment account and Sundaram's Account in the book of Sri Mehta.​

Answer 1

Answer:

Sri Mehta of Bombay consigns 1,000 cases of goods costing ~ 100 each to Sri Sundaram of Madras. Sri Mehta pays the following expenses in connection with the consignment: carriage ~ 1,000; freight ~ 3,000; and loading charges ~ 1,000.

Sri Sundaram sells 700 cases at ~ 140 per case and incurs the following expenses : clearing charges ~ 850; warehousing and storage ~ 1,700; and packing and selling expenses ~ 600. It is found that 50 cases have been lost in transit and 100 cases are still in transit. Sri Sundaram is entitled to a commission of 10% on gross sales. Draw up Consignment Account

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