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Goods costing Rs. 80,000 are consigned by Manjari & Co. to Anjali & Co. for Rs. 1,00,000. Expenses of the consignor in this respect was Rs. 5,000. Consignee spends Rs. 6,000 for taking the delivery. Some of the goods were returned by the consignee costing Rs. 10,000. The amount to be credited to consignment account for goods returned will be?
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Goods costing Rs. 80,000 are consigned by Manjari & Co. to Anjali & Co...
First, let's calculate the total cost of goods consigned:
- Cost of goods consigned = Rs. 80,000
- Expenses of consignor = Rs. 5,000
- Total cost of goods consigned = Rs. 80,000 + Rs. 5,000 = Rs. 85,000
Next, let's calculate the amount received by the consignor:
- Amount received from consignee = Rs. 1,00,000
- Expenses incurred by consignee = Rs. 6,000
- Total amount received by the consignor = Rs. 1,00,000 - Rs. 6,000 = Rs. 94,000
Now, let's calculate the amount to be credited to the consignment account for goods returned:
- Cost of goods returned = Rs. 10,000
- Profit margin = Rs. 94,000 - Rs. 85,000 = Rs. 9,000
- Amount to be credited for goods returned = (Cost of goods returned - Profit margin) = Rs. 10,000 - Rs. 9,000 = Rs. 1,000
Therefore, the amount to be credited to the consignment account for goods returned will be Rs. 1,000.
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Goods costing Rs. 80,000 are consigned by Manjari & Co. to Anjali & Co. for Rs. 1,00,000. Expenses of the consignor in this respect was Rs. 5,000. Consignee spends Rs. 6,000 for taking the delivery. Some of the goods were returned by the consignee costing Rs. 10,000. The amount to be credited to consignment account for goods returned will be?
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Goods costing Rs. 80,000 are consigned by Manjari & Co. to Anjali & Co. for Rs. 1,00,000. Expenses of the consignor in this respect was Rs. 5,000. Consignee spends Rs. 6,000 for taking the delivery. Some of the goods were returned by the consignee costing Rs. 10,000. The amount to be credited to consignment account for goods returned will be? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Goods costing Rs. 80,000 are consigned by Manjari & Co. to Anjali & Co. for Rs. 1,00,000. Expenses of the consignor in this respect was Rs. 5,000. Consignee spends Rs. 6,000 for taking the delivery. Some of the goods were returned by the consignee costing Rs. 10,000. The amount to be credited to consignment account for goods returned will be? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Goods costing Rs. 80,000 are consigned by Manjari & Co. to Anjali & Co. for Rs. 1,00,000. Expenses of the consignor in this respect was Rs. 5,000. Consignee spends Rs. 6,000 for taking the delivery. Some of the goods were returned by the consignee costing Rs. 10,000. The amount to be credited to consignment account for goods returned will be?.
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