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4. Goods sent on consignment for ₹1,00,000. During transit 1/10th of goods were destroyed by fire. Again 1/9th of goods received by consignee were destroyed by fire in godown. Half of the original goods were sold for 30,000. Freight & insurance paid by consignor $2.500 and 1500 respectively. Calculate closing Stock.?
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4. Goods sent on consignment for ₹1,00,000. During transit 1/10th of g...
Charges amounted to ₹5,000. Calculate the profit or loss on consignment.

Total goods sent on consignment = ₹1,00,000
Goods destroyed during transit = 1/10th of ₹1,00,000 = ₹10,000
Goods received by consignee = ₹1,00,000 - ₹10,000 = ₹90,000
Goods destroyed in godown = 1/9th of ₹90,000 = ₹10,000
Total goods available for sale = ₹90,000 - ₹10,000 = ₹80,000

Goods sold for ₹30,000, which is half of the original goods, so the total value of the goods is ₹60,000.

Total cost incurred:
Cost of goods sent on consignment = ₹1,00,000
Freight charges = ₹5,000
Loss due to goods destroyed = ₹10,000 + ₹10,000 = ₹20,000
Total cost = ₹1,00,000 + ₹5,000 + ₹20,000 = ₹1,25,000

Total revenue earned = ₹30,000
Profit or loss on consignment = Total revenue - Total cost
= ₹30,000 - ₹1,25,000
= -₹95,000 (Loss)

Therefore, there is a loss of ₹95,000 on the consignment.
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4. Goods sent on consignment for ₹1,00,000. During transit 1/10th of g...
20000
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4. Goods sent on consignment for ₹1,00,000. During transit 1/10th of goods were destroyed by fire. Again 1/9th of goods received by consignee were destroyed by fire in godown. Half of the original goods were sold for 30,000. Freight & insurance paid by consignor $2.500 and 1500 respectively. Calculate closing Stock.?
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4. Goods sent on consignment for ₹1,00,000. During transit 1/10th of goods were destroyed by fire. Again 1/9th of goods received by consignee were destroyed by fire in godown. Half of the original goods were sold for 30,000. Freight & insurance paid by consignor $2.500 and 1500 respectively. Calculate closing Stock.? 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 4. Goods sent on consignment for ₹1,00,000. During transit 1/10th of goods were destroyed by fire. Again 1/9th of goods received by consignee were destroyed by fire in godown. Half of the original goods were sold for 30,000. Freight & insurance paid by consignor $2.500 and 1500 respectively. Calculate closing Stock.? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for 4. Goods sent on consignment for ₹1,00,000. During transit 1/10th of goods were destroyed by fire. Again 1/9th of goods received by consignee were destroyed by fire in godown. Half of the original goods were sold for 30,000. Freight & insurance paid by consignor $2.500 and 1500 respectively. Calculate closing Stock.?.
Solutions for 4. Goods sent on consignment for ₹1,00,000. During transit 1/10th of goods were destroyed by fire. Again 1/9th of goods received by consignee were destroyed by fire in godown. Half of the original goods were sold for 30,000. Freight & insurance paid by consignor $2.500 and 1500 respectively. Calculate closing Stock.? in English & in Hindi are available as part of our courses for CA Foundation. Download more important topics, notes, lectures and mock test series for CA Foundation Exam by signing up for free.
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