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X of Kolkata sends out goods costing 100000 to y of Mumbai at cost plus 25% consignors expenses rupees 2000.3/5 th of the goods were sold by consignee at 85000.Commison 2%on sales +20% of gross sales less all commissions exceeds invoice value .Amount of commission will be?? Pls do show the steps?
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X of Kolkata sends out goods costing 100000 to y of Mumbai at cost plu...
Calculating Commission on Consignment Sales

Given:

  • Cost of goods = 100000

  • Markup = 25%

  • Consignor's expenses = 2000

  • Sales made by consignee = 85000

  • Commission on sales = 2%

  • Commission on gross sales (after deducting all commissions) = 20%



Calculations:

  1. Markup on cost = (25/100) * 100000 = 25000

  2. Invoice value = Cost + Markup + Consignor's expenses = 100000 + 25000 + 2000 = 127000

  3. Total sales = 85000/0.6 = 141666.67 (since only 3/5th of the goods were sold, total sales will be calculated by dividing the actual sales by the percentage of goods sold)

  4. Commission on sales = (2/100) * 85000 = 1700

  5. Gross sales = Total sales + Commission on sales = 141666.67 + 1700 = 143366.67

  6. Commission on gross sales = (20/100) * 143366.67 = 28673.33

  7. Amount of commission = Commission on gross sales - Commission on sales = 28673.33 - 1700 = 26973.33



Answer: The amount of commission will be Rs. 26973.33.
Community Answer
X of Kolkata sends out goods costing 100000 to y of Mumbai at cost plu...
3700 commission will be recieved
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X of Kolkata sends out goods costing 100000 to y of Mumbai at cost plus 25% consignors expenses rupees 2000.3/5 th of the goods were sold by consignee at 85000.Commison 2%on sales +20% of gross sales less all commissions exceeds invoice value .Amount of commission will be?? Pls do show the steps?
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X of Kolkata sends out goods costing 100000 to y of Mumbai at cost plus 25% consignors expenses rupees 2000.3/5 th of the goods were sold by consignee at 85000.Commison 2%on sales +20% of gross sales less all commissions exceeds invoice value .Amount of commission will be?? Pls do show the steps? 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 X of Kolkata sends out goods costing 100000 to y of Mumbai at cost plus 25% consignors expenses rupees 2000.3/5 th of the goods were sold by consignee at 85000.Commison 2%on sales +20% of gross sales less all commissions exceeds invoice value .Amount of commission will be?? Pls do show the steps? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for X of Kolkata sends out goods costing 100000 to y of Mumbai at cost plus 25% consignors expenses rupees 2000.3/5 th of the goods were sold by consignee at 85000.Commison 2%on sales +20% of gross sales less all commissions exceeds invoice value .Amount of commission will be?? Pls do show the steps?.
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