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Sudha of srinagar consigned goods value of 20000 to indira of warangal. Sudha paid cortage of 1500 indira sent account sales with the following information (a) half of the goods were sold for 15000 (b) indira paid 750 towards expenses?
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Sudha of srinagar consigned goods value of 20000 to indira of warangal...
Explanation of the given scenario:

Sudha of Srinagar consigned goods worth 20000 to Indira of Warangal. Sudha paid carriage of 1500. Indira sent an account sales with the following information:

(a) Half of the goods were sold for 15000
(b) Indira paid 750 towards expenses

Consignor and Consignee:

Sudha is the consignor who sends the goods, and Indira is the consignee who receives the goods.

Consignor's Account:

The consignor's account is prepared to record the transactions related to consignment.

Expenses:

Expenses incurred by the consignee are borne by the consignor. In this case, Indira paid 750 towards expenses, which will be reimbursed by Sudha.

Account Sales:

Account sales is a document sent by the consignee to the consignor to inform about the sales made and the expenses incurred.

Calculation of amount payable to the Consignor:

The amount payable to the consignor is calculated as follows:

Sales Proceeds = 15000

Less: Expenses incurred by the consignee = 750

Net Proceeds = 14250

Commission payable to the consignee = 2.5% of 15000 = 375

Amount payable to the consignor = Net Proceeds - Commission payable to the consignee - Carriage = 14250 - 375 - 1500 = 12375

Conclusion:

In conclusion, Indira sold half of the goods for 15000 and incurred expenses of 750, which will be reimbursed by Sudha. The amount payable to Sudha after deducting the commission and carriage is 12375.
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4. On January 1, 2018 the Consignment to Ceylon A/c in the books of Unique Clock Makers showed a debit balance of Rs. 3,750. This is represented by the invoice value of 50 clocks which is 25% above cost. On January 7, they sent another consignment of 2,500 clocks at the invoice price of Rs. 75 each which was 25% above cost. They paid Rs. 1,000 for packing, Rs. 500 for insurance and Rs. 3,000 for carriage and freight. Rama watch Co. the Consignee, received the clocks on January 21 and paid Rs. 3,000 for custom duty, clearing, etc. They also sent a bank draft for 50% of the invoice price of the goods received. On June 15, they returned 50 clocks which were found defective. By December 31, 2018 they sold the opening stock of 50 clocks at Rs. 85 each on credit and 2,400 clocks of the new Consignment at Rs. 90 each. Their expenses were: advertising Rs. 2,000, salaries Rs. 2,000, and service charges Rs. 250. The Consignee is entitled to a commission of 8% on sales. The Consignee could not recover Rs. 250 on account of credit sales. Show the necessary ledger accounts in the books of both the parties. (Answer: Profit Rs. 43,780; Value of closing stock Rs. 3,900; Amount due from Consignees Rs. 1,01,630)?

3. Modi Textiles, Delhi consigned to Vinod Enterprises, Calcutta 100 cotton bales. The invoice price of each bale was Rs. 1,500 which includes 20% profit on invoice price. The Consignor paid Rs. 2,500 for insurance and Rs. 4,000 for carriage and freight. The Consignee received cotton bales and sold 75 bales for cash and realised Rs. 1,12,500. He incurred Rs. 1,800 on godown rent and was allowed 10% conmission on sales. 5 cotton bales were spoiled in godôwn and they are to be valued at 50% depreciation. Show Consignment Account in the books of Modi Textiles. Note : These write Unive Hint: The damaged goods are also to be included in stock and they will be valued at 50% of the invoice price and the proportionate expenses. (Answers: Profit Rs. 1,412, Value of stock Rs. 35,212 (including Rs. 3,912 for damaged goods); Amount due from the Consignee Rs. 99,450)?

Sudha of srinagar consigned goods value of 20000 to indira of warangal. Sudha paid cortage of 1500 indira sent account sales with the following information (a) half of the goods were sold for 15000 (b) indira paid 750 towards expenses?
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Sudha of srinagar consigned goods value of 20000 to indira of warangal. Sudha paid cortage of 1500 indira sent account sales with the following information (a) half of the goods were sold for 15000 (b) indira paid 750 towards expenses? 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 Sudha of srinagar consigned goods value of 20000 to indira of warangal. Sudha paid cortage of 1500 indira sent account sales with the following information (a) half of the goods were sold for 15000 (b) indira paid 750 towards expenses? covers all topics & solutions for B Com 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Sudha of srinagar consigned goods value of 20000 to indira of warangal. Sudha paid cortage of 1500 indira sent account sales with the following information (a) half of the goods were sold for 15000 (b) indira paid 750 towards expenses?.
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