+1-415-670-9189
info@expertsmind.com
Prepare the consignment account
Course:- Cost Accounting
Reference No.:- EM13298377




Assignment Help
Assignment Help >> Cost Accounting

on 1st January 1988 red of quetta consigned to blueof Karachi goods for sale blue is entitled to commission of 6% oninvoice price and 20% of any surplus price realized. Goods costingRs.18000 were consigned to blue of Karachi at invoice price ofRs.22500. the expenses of consignment amounted to Rs.1800 wereincurred by red. On 1st march, an account saleswas received from blue showing that he had affected sales ofRs.18500 in respect of 75% of the quantity of goods consigned tohim. His actual out of pocket expenses were freight in Rs. 180 ,fire insurance Rs.90 and other expenses Rs.230, blue accepted abill drawn by red for Rs.10000 and remitted the balance incash.

Reuired: prepare the consignment account in the books of consigner.




Put your comment
 
Minimize


Ask Question & Get Answers from Experts
Browse some more (Cost Accounting) Materials
During the same period, the company had $1,155,378 in interest expense, $1,023,285 in depreciation and amortization expense, and an average corporate tax rate of 35 percent.
What was the amount of budgeted fixed overhead costs for the year? What was the total underapplied or overapplied overhead for the year? Compute all possible fixed overh
On January 4, 2016, Spandella Company purchased 175,000 shares of Filington Company directly from one of the founders for a price of $30 per share.Ā Filington has 500,000 share
Hi-Tek Manufacturing Inc. makes two types of industrial component parts-the B300 and the T500. Compute the product margins for the B300 and T500 under the company's traditiona
What is your assessment of the schedule performance index (SPI) and cost performance index (CPI) of the project? What actions or corrective actions would you want to take, k
With reference to each one of the five ratios in turn and the other information provided explain what the results of your calculations indicate for Globe Ltd's going concern
The shuttle division of the Tandem Corporation produces circuit boards which are sold to the transistor radio division of the company, as well as to outside buyers. The inco
The Singer Company manufactures several different products. Unit costs associated with Product ICT101 are as follows:? What are the variable costs per unit associated with P