topaji consigned 500 bags of seed costing Rs.100 per bag to Deelip. Topaji paid freight Rs.500 Insurance Rs.200 and sundry expenses Rs.80 Deelip sold 300 bags of seed at Rs. 150 each He paid Rs. 180 for carriage and Rs. 200 gidown rent. He was entitled to a commission of 5 % on total sales. The balance due was sent by Bank draft. prepare consignment Account and Deelip Account in the books of Topaji.
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Answer:
The Amount for Topaji is Rs 51,000 ,
The Amount for Deelips is Rs 42,900 .
Step-by-step explanation:
Given as :
For Topaji
The quantity of bags of seed = 500
The cost of each bags = Rs 100 per bag
The cost of insurance = Rs 200
The Sunday expenses = Rs 800
Total expenses = 500 × Rs 100 + rs 200 + rs 800
or, Total expenses = Rs 51,000
For Deelip
The quantity of bags of seed = 300
The cost of each bags = Rs 150 per bag
The cost of gidown = Rs 200
Total expenses = 300 × Rs 150 + rs 200
Or, total expenses = Rs 45,200
The commission percentage = 5% on total sales
After commission expenses = 45,200 - 0.05 × 45,200
Or, After commission expenses = Rs 42,940
Hence, The Amount for Topaji is Rs 51,000 , The Amount for Deelips is Rs 42,900 . Answer
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