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1,000 toys consigned by Rajesh & Co. of Calcutta to Sagnik & Co. of Raipur at an invoice cost of Rs 150 each. Roy & Co. paid freight Rs 10,000 and insurance Rs 1,500. During the voyage 100 toys were totally damaged by fire and had to be thrown overboard. Sagnik & Co. took delivery of the remaining toys and paid Rs 14,400 as customs duty and sent a bank draft to Rajesh & Co for Rs.50,000 as advance payment. Later on he sent an account sales showing that 800 toys had been sold at Rs.220 each. Expenses incurred by Sagnik & Co. on godown rent Rs.2500 and advertisement Rs. 2000. He was entitled to commission of 10% on total sales. One of the credit customers could not pay for 3 toys. Prepare the Consignment Account & Sagnik & Co A/c & Profit & Loss account in the books of Rajesh & Co. assuming that nothing has been recovered from the insurance company due to a defect in the policy. Sagnik & Co. settled his account immediately. Related: ICAI Notes 7.2 - Consignment Accounting (Part - 1)? 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 1,000 toys consigned by Rajesh & Co. of Calcutta to Sagnik & Co. of Raipur at an invoice cost of Rs 150 each. Roy & Co. paid freight Rs 10,000 and insurance Rs 1,500. During the voyage 100 toys were totally damaged by fire and had to be thrown overboard. Sagnik & Co. took delivery of the remaining toys and paid Rs 14,400 as customs duty and sent a bank draft to Rajesh & Co for Rs.50,000 as advance payment. Later on he sent an account sales showing that 800 toys had been sold at Rs.220 each. Expenses incurred by Sagnik & Co. on godown rent Rs.2500 and advertisement Rs. 2000. He was entitled to commission of 10% on total sales. One of the credit customers could not pay for 3 toys. Prepare the Consignment Account & Sagnik & Co A/c & Profit & Loss account in the books of Rajesh & Co. assuming that nothing has been recovered from the insurance company due to a defect in the policy. Sagnik & Co. settled his account immediately. Related: ICAI Notes 7.2 - Consignment Accounting (Part - 1)? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for 1,000 toys consigned by Rajesh & Co. of Calcutta to Sagnik & Co. of Raipur at an invoice cost of Rs 150 each. Roy & Co. paid freight Rs 10,000 and insurance Rs 1,500. During the voyage 100 toys were totally damaged by fire and had to be thrown overboard. Sagnik & Co. took delivery of the remaining toys and paid Rs 14,400 as customs duty and sent a bank draft to Rajesh & Co for Rs.50,000 as advance payment. Later on he sent an account sales showing that 800 toys had been sold at Rs.220 each. Expenses incurred by Sagnik & Co. on godown rent Rs.2500 and advertisement Rs. 2000. He was entitled to commission of 10% on total sales. One of the credit customers could not pay for 3 toys. Prepare the Consignment Account & Sagnik & Co A/c & Profit & Loss account in the books of Rajesh & Co. assuming that nothing has been recovered from the insurance company due to a defect in the policy. Sagnik & Co. settled his account immediately. Related: ICAI Notes 7.2 - Consignment Accounting (Part - 1)?.

Solutions for 1,000 toys consigned by Rajesh & Co. of Calcutta to Sagnik & Co. of Raipur at an invoice cost of Rs 150 each. Roy & Co. paid freight Rs 10,000 and insurance Rs 1,500. During the voyage 100 toys were totally damaged by fire and had to be thrown overboard. Sagnik & Co. took delivery of the remaining toys and paid Rs 14,400 as customs duty and sent a bank draft to Rajesh & Co for Rs.50,000 as advance payment. Later on he sent an account sales showing that 800 toys had been sold at Rs.220 each. Expenses incurred by Sagnik & Co. on godown rent Rs.2500 and advertisement Rs. 2000. He was entitled to commission of 10% on total sales. One of the credit customers could not pay for 3 toys. Prepare the Consignment Account & Sagnik & Co A/c & Profit & Loss account in the books of Rajesh & Co. assuming that nothing has been recovered from the insurance company due to a defect in the policy. Sagnik & Co. settled his account immediately. Related: ICAI Notes 7.2 - Consignment Accounting (Part - 1)? 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.

Here you can find the meaning of 1,000 toys consigned by Rajesh & Co. of Calcutta to Sagnik & Co. of Raipur at an invoice cost of Rs 150 each. Roy & Co. paid freight Rs 10,000 and insurance Rs 1,500. During the voyage 100 toys were totally damaged by fire and had to be thrown overboard. Sagnik & Co. took delivery of the remaining toys and paid Rs 14,400 as customs duty and sent a bank draft to Rajesh & Co for Rs.50,000 as advance payment. Later on he sent an account sales showing that 800 toys had been sold at Rs.220 each. Expenses incurred by Sagnik & Co. on godown rent Rs.2500 and advertisement Rs. 2000. He was entitled to commission of 10% on total sales. One of the credit customers could not pay for 3 toys. Prepare the Consignment Account & Sagnik & Co A/c & Profit & Loss account in the books of Rajesh & Co. assuming that nothing has been recovered from the insurance company due to a defect in the policy. Sagnik & Co. settled his account immediately. Related: ICAI Notes 7.2 - Consignment Accounting (Part - 1)? defined & explained in the simplest way possible. Besides giving the explanation of 1,000 toys consigned by Rajesh & Co. of Calcutta to Sagnik & Co. of Raipur at an invoice cost of Rs 150 each. Roy & Co. paid freight Rs 10,000 and insurance Rs 1,500. During the voyage 100 toys were totally damaged by fire and had to be thrown overboard. Sagnik & Co. took delivery of the remaining toys and paid Rs 14,400 as customs duty and sent a bank draft to Rajesh & Co for Rs.50,000 as advance payment. Later on he sent an account sales showing that 800 toys had been sold at Rs.220 each. Expenses incurred by Sagnik & Co. on godown rent Rs.2500 and advertisement Rs. 2000. He was entitled to commission of 10% on total sales. One of the credit customers could not pay for 3 toys. Prepare the Consignment Account & Sagnik & Co A/c & Profit & Loss account in the books of Rajesh & Co. assuming that nothing has been recovered from the insurance company due to a defect in the policy. Sagnik & Co. settled his account immediately. Related: ICAI Notes 7.2 - Consignment Accounting (Part - 1)?, a detailed solution for 1,000 toys consigned by Rajesh & Co. of Calcutta to Sagnik & Co. of Raipur at an invoice cost of Rs 150 each. Roy & Co. paid freight Rs 10,000 and insurance Rs 1,500. During the voyage 100 toys were totally damaged by fire and had to be thrown overboard. Sagnik & Co. took delivery of the remaining toys and paid Rs 14,400 as customs duty and sent a bank draft to Rajesh & Co for Rs.50,000 as advance payment. Later on he sent an account sales showing that 800 toys had been sold at Rs.220 each. Expenses incurred by Sagnik & Co. on godown rent Rs.2500 and advertisement Rs. 2000. He was entitled to commission of 10% on total sales. One of the credit customers could not pay for 3 toys. Prepare the Consignment Account & Sagnik & Co A/c & Profit & Loss account in the books of Rajesh & Co. assuming that nothing has been recovered from the insurance company due to a defect in the policy. Sagnik & Co. settled his account immediately. Related: ICAI Notes 7.2 - Consignment Accounting (Part - 1)? has been provided alongside types of 1,000 toys consigned by Rajesh & Co. of Calcutta to Sagnik & Co. of Raipur at an invoice cost of Rs 150 each. Roy & Co. paid freight Rs 10,000 and insurance Rs 1,500. During the voyage 100 toys were totally damaged by fire and had to be thrown overboard. Sagnik & Co. took delivery of the remaining toys and paid Rs 14,400 as customs duty and sent a bank draft to Rajesh & Co for Rs.50,000 as advance payment. Later on he sent an account sales showing that 800 toys had been sold at Rs.220 each. Expenses incurred by Sagnik & Co. on godown rent Rs.2500 and advertisement Rs. 2000. He was entitled to commission of 10% on total sales. One of the credit customers could not pay for 3 toys. Prepare the Consignment Account & Sagnik & Co A/c & Profit & Loss account in the books of Rajesh & Co. assuming that nothing has been recovered from the insurance company due to a defect in the policy. Sagnik & Co. settled his account immediately. Related: ICAI Notes 7.2 - Consignment Accounting (Part - 1)? theory, EduRev gives you an ample number of questions to practice 1,000 toys consigned by Rajesh & Co. of Calcutta to Sagnik & Co. of Raipur at an invoice cost of Rs 150 each. Roy & Co. paid freight Rs 10,000 and insurance Rs 1,500. During the voyage 100 toys were totally damaged by fire and had to be thrown overboard. Sagnik & Co. took delivery of the remaining toys and paid Rs 14,400 as customs duty and sent a bank draft to Rajesh & Co for Rs.50,000 as advance payment. Later on he sent an account sales showing that 800 toys had been sold at Rs.220 each. Expenses incurred by Sagnik & Co. on godown rent Rs.2500 and advertisement Rs. 2000. He was entitled to commission of 10% on total sales. One of the credit customers could not pay for 3 toys. Prepare the Consignment Account & Sagnik & Co A/c & Profit & Loss account in the books of Rajesh & Co. assuming that nothing has been recovered from the insurance company due to a defect in the policy. Sagnik & Co. settled his account immediately. Related: ICAI Notes 7.2 - Consignment Accounting (Part - 1)? tests, examples and also practice CA Foundation tests.