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Question Ravi consigned goods to Suraj costing Rs. 100000. The Proforma invoice was made to show a profit of 25% on cost. Ravi paid freight, insurance Rs. 2000. Suraj sold part of consignmen t for Rs. 88000 at a uniform price of 10% over?
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Question Ravi consigned goods to Suraj costing Rs. 100000. The Proform...
Consignment of Goods
Ravi consigned goods to Suraj costing Rs. 100000. This means that Ravi sent the goods to Suraj for selling, but he still owns the goods until they are sold.
Proforma Invoice
The Proforma invoice was made to show a profit of 25% on cost. A proforma invoice is a preliminary bill of sale sent to the buyer in advance of a shipment or delivery of goods. In this case, Ravi created a proforma invoice that showed the cost of the goods and the profit he wanted to make.
Freight and Insurance
Ravi paid freight, insurance Rs. 2000. Freight and insurance are additional costs associated with shipping goods. Freight is the cost of transporting goods from one place to another, while insurance is the cost of insuring the goods against damage or loss during transit.
Sale of Goods
Suraj sold part of the consignment for Rs. 88000 at a uniform price of 10% over. This means that Suraj sold some of the goods for Rs. 88000, and he charged a uniform price of 10% over the cost of the goods.
Explanation
When Ravi consigned the goods to Suraj, he still owned the goods until they were sold. When Suraj sold part of the consignment, he charged a uniform price of 10% over the cost of the goods, which means he sold the goods for Rs. 110000. Since Ravi had created a proforma invoice that showed a profit of 25% on the cost of the goods, he expected to make a profit of Rs. 25000 on the sale. However, since Suraj only sold the goods for Rs. 110000, Ravi's profit was only Rs. 10000 after deducting the freight and insurance costs.
Ravi consigned goods to Suraj costing Rs. 100000. This means that Ravi sent the goods to Suraj for selling, but he still owns the goods until they are sold.
Proforma Invoice
The Proforma invoice was made to show a profit of 25% on cost. A proforma invoice is a preliminary bill of sale sent to the buyer in advance of a shipment or delivery of goods. In this case, Ravi created a proforma invoice that showed the cost of the goods and the profit he wanted to make.
Freight and Insurance
Ravi paid freight, insurance Rs. 2000. Freight and insurance are additional costs associated with shipping goods. Freight is the cost of transporting goods from one place to another, while insurance is the cost of insuring the goods against damage or loss during transit.
Sale of Goods
Suraj sold part of the consignment for Rs. 88000 at a uniform price of 10% over. This means that Suraj sold some of the goods for Rs. 88000, and he charged a uniform price of 10% over the cost of the goods.
Explanation
When Ravi consigned the goods to Suraj, he still owned the goods until they were sold. When Suraj sold part of the consignment, he charged a uniform price of 10% over the cost of the goods, which means he sold the goods for Rs. 110000. Since Ravi had created a proforma invoice that showed a profit of 25% on the cost of the goods, he expected to make a profit of Rs. 25000 on the sale. However, since Suraj only sold the goods for Rs. 110000, Ravi's profit was only Rs. 10000 after deducting the freight and insurance costs.
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Question Ravi consigned goods to Suraj costing Rs. 100000. The Proforma invoice was made to show a profit of 25% on cost. Ravi paid freight, insurance Rs. 2000. Suraj sold part of consignmen t for Rs. 88000 at a uniform price of 10% over?
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Question Ravi consigned goods to Suraj costing Rs. 100000. The Proforma invoice was made to show a profit of 25% on cost. Ravi paid freight, insurance Rs. 2000. Suraj sold part of consignmen t for Rs. 88000 at a uniform price of 10% over? 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 Question Ravi consigned goods to Suraj costing Rs. 100000. The Proforma invoice was made to show a profit of 25% on cost. Ravi paid freight, insurance Rs. 2000. Suraj sold part of consignmen t for Rs. 88000 at a uniform price of 10% over? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Question Ravi consigned goods to Suraj costing Rs. 100000. The Proforma invoice was made to show a profit of 25% on cost. Ravi paid freight, insurance Rs. 2000. Suraj sold part of consignmen t for Rs. 88000 at a uniform price of 10% over?.
Question Ravi consigned goods to Suraj costing Rs. 100000. The Proforma invoice was made to show a profit of 25% on cost. Ravi paid freight, insurance Rs. 2000. Suraj sold part of consignmen t for Rs. 88000 at a uniform price of 10% over? 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 Question Ravi consigned goods to Suraj costing Rs. 100000. The Proforma invoice was made to show a profit of 25% on cost. Ravi paid freight, insurance Rs. 2000. Suraj sold part of consignmen t for Rs. 88000 at a uniform price of 10% over? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Question Ravi consigned goods to Suraj costing Rs. 100000. The Proforma invoice was made to show a profit of 25% on cost. Ravi paid freight, insurance Rs. 2000. Suraj sold part of consignmen t for Rs. 88000 at a uniform price of 10% over?.
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Question Ravi consigned goods to Suraj costing Rs. 100000. The Proforma invoice was made to show a profit of 25% on cost. Ravi paid freight, insurance Rs. 2000. Suraj sold part of consignmen t for Rs. 88000 at a uniform price of 10% over?, a detailed solution for Question Ravi consigned goods to Suraj costing Rs. 100000. The Proforma invoice was made to show a profit of 25% on cost. Ravi paid freight, insurance Rs. 2000. Suraj sold part of consignmen t for Rs. 88000 at a uniform price of 10% over? has been provided alongside types of Question Ravi consigned goods to Suraj costing Rs. 100000. The Proforma invoice was made to show a profit of 25% on cost. Ravi paid freight, insurance Rs. 2000. Suraj sold part of consignmen t for Rs. 88000 at a uniform price of 10% over? theory, EduRev gives you an
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