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Goods sent out on consignment Rs. 2,00,000. Consignor’s expenses 5,000. Consignee’s expenses 2,000. Cash sales Rs. 1,00,000, credit sales Rs. 1,10,000. Consignment stock Rs. 40,000. Ordinary commission payable to consignee Rs. 3,000. Del-credere commission Rs. 2,000. The amount irrecoverable from customer Rs. 2,000. What will be the profit on consignment?
- a)Rs. 38,000
- b)Rs. 40,000
- c)Rs. 36,000
- d)Rs. 43,000
Correct answer is option 'A'. Can you explain this answer?
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Goods sent out on consignment Rs. 2,00,000. Consignor’s expenses...
Consigns the goods to a consignee for sale. The consignee sells the goods for Rs. 2,50,000. The consignee is entitled to a commission of 10% on the sale price and incurs expenses of Rs. 5,000 for freight and Rs. 2,000 for advertising. Calculate the consignor's profit.
The consignor's profit can be calculated using the following formula:
Profit = Sale Price - (Cost of Goods + Expenses + Commission)
Given:
Cost of Goods = Rs. 2,00,000
Sale Price = Rs. 2,50,000
Commission = 10% of Sale Price = 10/100 * Rs. 2,50,000 = Rs. 25,000
Expenses = Freight + Advertising = Rs. 5,000 + Rs. 2,000 = Rs. 7,000
Substituting the given values into the formula:
Profit = Rs. 2,50,000 - (Rs. 2,00,000 + Rs. 7,000 + Rs. 25,000)
Profit = Rs. 2,50,000 - Rs. 2,32,000
Profit = Rs. 18,000
Therefore, the consignor's profit is Rs. 18,000.
The consignor's profit can be calculated using the following formula:
Profit = Sale Price - (Cost of Goods + Expenses + Commission)
Given:
Cost of Goods = Rs. 2,00,000
Sale Price = Rs. 2,50,000
Commission = 10% of Sale Price = 10/100 * Rs. 2,50,000 = Rs. 25,000
Expenses = Freight + Advertising = Rs. 5,000 + Rs. 2,000 = Rs. 7,000
Substituting the given values into the formula:
Profit = Rs. 2,50,000 - (Rs. 2,00,000 + Rs. 7,000 + Rs. 25,000)
Profit = Rs. 2,50,000 - Rs. 2,32,000
Profit = Rs. 18,000
Therefore, the consignor's profit is Rs. 18,000.
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Goods sent out on consignment Rs. 2,00,000. Consignor’s expenses 5,000. Consignee’s expenses 2,000. Cash sales Rs. 1,00,000, credit sales Rs. 1,10,000. Consignment stock Rs. 40,000. Ordinary commission payable to consignee Rs. 3,000. Del-credere commission Rs. 2,000. The amount irrecoverable from customer Rs. 2,000. What will be the profit on consignment?a)Rs. 38,000b)Rs. 40,000c)Rs. 36,000d)Rs. 43,000Correct answer is option 'A'. Can you explain this answer?
Question Description
Goods sent out on consignment Rs. 2,00,000. Consignor’s expenses 5,000. Consignee’s expenses 2,000. Cash sales Rs. 1,00,000, credit sales Rs. 1,10,000. Consignment stock Rs. 40,000. Ordinary commission payable to consignee Rs. 3,000. Del-credere commission Rs. 2,000. The amount irrecoverable from customer Rs. 2,000. What will be the profit on consignment?a)Rs. 38,000b)Rs. 40,000c)Rs. 36,000d)Rs. 43,000Correct answer is option 'A'. Can you explain this answer? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about Goods sent out on consignment Rs. 2,00,000. Consignor’s expenses 5,000. Consignee’s expenses 2,000. Cash sales Rs. 1,00,000, credit sales Rs. 1,10,000. Consignment stock Rs. 40,000. Ordinary commission payable to consignee Rs. 3,000. Del-credere commission Rs. 2,000. The amount irrecoverable from customer Rs. 2,000. What will be the profit on consignment?a)Rs. 38,000b)Rs. 40,000c)Rs. 36,000d)Rs. 43,000Correct answer is option 'A'. Can you explain this answer? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Goods sent out on consignment Rs. 2,00,000. Consignor’s expenses 5,000. Consignee’s expenses 2,000. Cash sales Rs. 1,00,000, credit sales Rs. 1,10,000. Consignment stock Rs. 40,000. Ordinary commission payable to consignee Rs. 3,000. Del-credere commission Rs. 2,000. The amount irrecoverable from customer Rs. 2,000. What will be the profit on consignment?a)Rs. 38,000b)Rs. 40,000c)Rs. 36,000d)Rs. 43,000Correct answer is option 'A'. Can you explain this answer?.
Goods sent out on consignment Rs. 2,00,000. Consignor’s expenses 5,000. Consignee’s expenses 2,000. Cash sales Rs. 1,00,000, credit sales Rs. 1,10,000. Consignment stock Rs. 40,000. Ordinary commission payable to consignee Rs. 3,000. Del-credere commission Rs. 2,000. The amount irrecoverable from customer Rs. 2,000. What will be the profit on consignment?a)Rs. 38,000b)Rs. 40,000c)Rs. 36,000d)Rs. 43,000Correct answer is option 'A'. Can you explain this answer? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about Goods sent out on consignment Rs. 2,00,000. Consignor’s expenses 5,000. Consignee’s expenses 2,000. Cash sales Rs. 1,00,000, credit sales Rs. 1,10,000. Consignment stock Rs. 40,000. Ordinary commission payable to consignee Rs. 3,000. Del-credere commission Rs. 2,000. The amount irrecoverable from customer Rs. 2,000. What will be the profit on consignment?a)Rs. 38,000b)Rs. 40,000c)Rs. 36,000d)Rs. 43,000Correct answer is option 'A'. Can you explain this answer? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Goods sent out on consignment Rs. 2,00,000. Consignor’s expenses 5,000. Consignee’s expenses 2,000. Cash sales Rs. 1,00,000, credit sales Rs. 1,10,000. Consignment stock Rs. 40,000. Ordinary commission payable to consignee Rs. 3,000. Del-credere commission Rs. 2,000. The amount irrecoverable from customer Rs. 2,000. What will be the profit on consignment?a)Rs. 38,000b)Rs. 40,000c)Rs. 36,000d)Rs. 43,000Correct answer is option 'A'. Can you explain this answer?.
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Goods sent out on consignment Rs. 2,00,000. Consignor’s expenses 5,000. Consignee’s expenses 2,000. Cash sales Rs. 1,00,000, credit sales Rs. 1,10,000. Consignment stock Rs. 40,000. Ordinary commission payable to consignee Rs. 3,000. Del-credere commission Rs. 2,000. The amount irrecoverable from customer Rs. 2,000. What will be the profit on consignment?a)Rs. 38,000b)Rs. 40,000c)Rs. 36,000d)Rs. 43,000Correct answer is option 'A'. Can you explain this answer?, a detailed solution for Goods sent out on consignment Rs. 2,00,000. Consignor’s expenses 5,000. Consignee’s expenses 2,000. Cash sales Rs. 1,00,000, credit sales Rs. 1,10,000. Consignment stock Rs. 40,000. Ordinary commission payable to consignee Rs. 3,000. Del-credere commission Rs. 2,000. The amount irrecoverable from customer Rs. 2,000. What will be the profit on consignment?a)Rs. 38,000b)Rs. 40,000c)Rs. 36,000d)Rs. 43,000Correct answer is option 'A'. Can you explain this answer? has been provided alongside types of Goods sent out on consignment Rs. 2,00,000. Consignor’s expenses 5,000. Consignee’s expenses 2,000. Cash sales Rs. 1,00,000, credit sales Rs. 1,10,000. Consignment stock Rs. 40,000. Ordinary commission payable to consignee Rs. 3,000. Del-credere commission Rs. 2,000. The amount irrecoverable from customer Rs. 2,000. What will be the profit on consignment?a)Rs. 38,000b)Rs. 40,000c)Rs. 36,000d)Rs. 43,000Correct answer is option 'A'. Can you explain this answer? theory, EduRev gives you an
ample number of questions to practice Goods sent out on consignment Rs. 2,00,000. Consignor’s expenses 5,000. Consignee’s expenses 2,000. Cash sales Rs. 1,00,000, credit sales Rs. 1,10,000. Consignment stock Rs. 40,000. Ordinary commission payable to consignee Rs. 3,000. Del-credere commission Rs. 2,000. The amount irrecoverable from customer Rs. 2,000. What will be the profit on consignment?a)Rs. 38,000b)Rs. 40,000c)Rs. 36,000d)Rs. 43,000Correct answer is option 'A'. Can you explain this answer? tests, examples and also practice CA Foundation tests.
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