Question

Sunil Kumar of Indore sent goods of costing of Rs. 2,50,000 to Manisha Traders Jabalpur on consignment basis whiich was 25% more than its cost. He spent Rs. 2.500 on carriage and Rs. 2,4400 on insurance and received a bill of Rs. 80,000 which he discounted from bank for Rs. 77,500. Manisha Traders sold 415 of the consigned goods for Rs. 2,40,000 and spend Rs. 6,000 at selling expenses. He remitted the balancing amount to Sunil Kumar after deducting his commission @ 6.25% by a draft. Open necessary accounts in the hooks of Sunil Kumar. ​

Answer 1

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