Test: Consignment - 3 - CA Foundation MCQ

Goods costing Rs 1,80,000 sent out to consignee to show a profit of 20% on Invoice Price.Invoice price of the goods will be:

Goods of the Invoice value Rs 2,40,000 sent out to consignee at 20% profit on cost. The loading amount will be:

X sent out certain goods to Y of Delhi. 1/10 of the goods were lost in transit. Invoice value of goods lost Rs 12,500. Invoice value of goods sent out on consignment will be:

Rabin consigned goods for the value of Rs 8,250 to Raj of Kanpur paid freight etc. of Rs 650 and insurance Rs 400. Drew a bill on Raj at 3 months after date for Rs 3,000 as an advance against consignment, and discounted the bill for Rs  2960. Received Account Sales from Raj showing that part of the goods had realized gross Rs 8,350 and that his expenses and commission amounted to Rs 870. The stock unsold was valued at Rs 2750.Consignee wants to remit a draft for the amount due. The amount of draft will be:

X of Kolkata sends out goods costing Rs 1,00,000 to Y of Delhi. 3/5th of the goods were sold by consignee for Rs 70,000. Commission 2% on sales plus 20% of gross sales less all commission exceeds cost price. The amount of Commission will be:

X of Kolkata send out 1000 bag to Y of Delhi costing Rs 200 each. Consignor’s expenses Rs 2000. Y’s expenses non-selling Rs 1000, selling Rs 2000. 100 bags were lost in transit.Value of lost in transit will be:

X of Kolkata sends out 1000 bags to Y on Delhi costing Rs 2000 each. 600 bags were sold at 10% above cost price. Sale value will be:

X of Kolkata sent out 2000 boxes costing 100 each with the instruction that sales are to be made at cost + 45%. X draws a bill on Y for an amount equivalent to 60% of sales value. The amount of bill will be:

Which of the following statement is wrong:

X of Kolkata sends out 500 bags to Y costing Rs 400 each at an invoice price of Rs 500 each. Consignor’s A/c expenses Rs 4000 consignee’s expenses, non-selling Rs 1000, selling Rs. 2000. 400 bags were sold.The amount of consignment stock at Invoice Price will be:

X of Kolkata sends out 500 bags to Y costing Rs 400 each at an invoice price of Rs 500 each. Consignor’s A/c expenses Rs 4000 consignee’s expenses, non-selling Rs 1000, selling Rs. 2000. 400 bags were sold. The amount of Stock Reserve will be

Commission will be shared between:

X of Kolkata sends out certain goods to Y of Mumbai at cost + 25%. 1/2 of the goods received by Y is sold at 1,76,000 at 10% above IP. Invoice value of goods send out is:

X of Kolkata sends out goods costing 300,000 to Y of Mumbai at cost + 25%. Consignor’s expenses Rs 5000. 1/10^th of the goods were lost in transit. Insurance claim received Rs 3000. The net loss on account of abnormal loss is:

Which of the following statement is not true:

X of Kolkata sends out 400 bags to Y on Delhi costing Rs 200 each. Consignor expenses Rs 2000. Y expenses non selling Rs 2000, selling 1000. 300 bags were sold by Y. Value of consignment stock will be:

Rahim of Kolkata sends out 1000 boxes to Ram of Delhi costing Rs 100 each at an IP of Rs 120 each. Goods send out on consignment to be credited in general trading will be:

In the books of consignor, the profit of consignment will be transferred to:

Ram of Kolkata sends out 1000 boxes to Y of Delhi, costing Rs 200 each. 1/10^th of the boxes were lost in transit. 2/3^rd of the boxes received by consignee is sold at cost + 25%.The amount of sale value will be:

X of Kolkata sends out goods costing Rs 80,000 to Y of Mumbai so as to show 20% profit on invoice value. 3/5^th of the goods received by consignee is sold at 5% above invoice price. The amount of sale value will be:

X of Kolkata sends out certain goods at cost + 25%. Invoice value of goods sends out Rs 200,000. 4/5th of the goods were sold by consignee at Rs.1,76,000. Commission 2% upto invoice value and 10% of any surplus above invoice value.The amount of commission will be:

Ram of Kolkata sends out goods costing 100,000 to Y of Mumbai at 20% profit  on invoice price. 1/10^th of the goods were lost in transit. ½ of the balance goods were sold. The amount of stock reserve on consignment stock will be:

C of Bangalore consigned goods costing Rs 3,000 to his agent at Delhi. Freight and insurance paid by consignor Rs 100. Consignee’s expenses Rs 200. 4/5th of the goods were sold for Rs 3,000. Commission 2% on sales. Consignee want to settle the balance with the help of a bank draft. The amount of draft will be:

Out of the following at which point the treatment of “Sales” and “Consignment” is same:

If del-credere commission is allowed for bad debt, consignee will debit the bad debt amount to:

A proforma invoice is sent by:

Which of the following statement is correct: