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David sent goods costing RS. 550000 on consignment basis to Devi on 1-1-2020@ 7% commission. Rs. 75000 was spent on transportation by David. Devi spent rs. 45000 on uploading. Devi sold 85% of the goods received for rs. 625000, 10% of the goods for rs. 85000 and she took over the balance @ 5% below the cost price and sent a DD for the amount due from her to David. Show consignment account and Devi's account in the books of david.?
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David sent goods costing RS. 550000 on consignment basis to Devi on 1-...
Consignment Account






















Particulars Amount (Rs.)
Goods sent on consignment 550000
Less: Transportation 75000
Commission @ 7% 38500
Total 536500


Devi's Account


























































Particulars Amount (Rs.)
Goods received on consignment 550000
Less: Uploading Expenses 45000
Total Cost 595000
Sales
- 85% @ Rs. 625000 531250
- 10% @ Rs. 85000 8500
Goods taken over by Devi
- Cost Price 15750
Total 609500
Less: Commission @ 7% 38500
Net Proceeds 571000
Less: Goods taken over by Devi 15750
Amount due to David 555250


Explanation:

- David sent goods on consignment to Devi on 1-1-2020 at a cost of Rs. 550000.
- David incurred transportation expenses of Rs. 75000.
- Devi incurred uploading expenses of Rs. 45000.
- Devi sold 85% of the goods received for Rs. 625000 and 10% of the goods for Rs. 85000.
- Devi took over the balance of goods at a 5% discount on cost price.
- The consignment account shows the cost of goods sent on consignment after deducting transportation and commission.
- Devi's account shows the total cost of goods received
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David sent goods costing RS. 550000 on consignment basis to Devi on 1-...
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David sent goods costing RS. 550000 on consignment basis to Devi on 1-1-2020@ 7% commission. Rs. 75000 was spent on transportation by David. Devi spent rs. 45000 on uploading. Devi sold 85% of the goods received for rs. 625000, 10% of the goods for rs. 85000 and she took over the balance @ 5% below the cost price and sent a DD for the amount due from her to David. Show consignment account and Devi's account in the books of david.?
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David sent goods costing RS. 550000 on consignment basis to Devi on 1-1-2020@ 7% commission. Rs. 75000 was spent on transportation by David. Devi spent rs. 45000 on uploading. Devi sold 85% of the goods received for rs. 625000, 10% of the goods for rs. 85000 and she took over the balance @ 5% below the cost price and sent a DD for the amount due from her to David. Show consignment account and Devi's account in the books of david.? for B Com 2024 is part of B Com preparation. The Question and answers have been prepared according to the B Com exam syllabus. Information about David sent goods costing RS. 550000 on consignment basis to Devi on 1-1-2020@ 7% commission. Rs. 75000 was spent on transportation by David. Devi spent rs. 45000 on uploading. Devi sold 85% of the goods received for rs. 625000, 10% of the goods for rs. 85000 and she took over the balance @ 5% below the cost price and sent a DD for the amount due from her to David. Show consignment account and Devi's account in the books of david.? covers all topics & solutions for B Com 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for David sent goods costing RS. 550000 on consignment basis to Devi on 1-1-2020@ 7% commission. Rs. 75000 was spent on transportation by David. Devi spent rs. 45000 on uploading. Devi sold 85% of the goods received for rs. 625000, 10% of the goods for rs. 85000 and she took over the balance @ 5% below the cost price and sent a DD for the amount due from her to David. Show consignment account and Devi's account in the books of david.?.
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