Question

The memorandum Trading A/C, prepared by a trader who has lost goods in fire, is made up

Answer 1

Answer:

The memorandum trading A/c, prepared by a trader who has lost goods in fire, is made up from the date of fire upto the end of the accounting year. 11. If there are any damaged or obsolete items in stock lost by fire, the memorandum trading account should show only the normal items and ignore the abnormal items.

Explanation:

Easy

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Answer 2

Explanation:

In consignment accounting consignor is *

1 point

principal

agent

debtor of the consignee

creditor of consignor