User Account

All Pages

consignment account, Financial Accounting

Assignment Help:
A of surat consigns goods to B of jaipur to be sold at or above invoice price.B is entitled to get a commission of 8% on sales at invoice price plus 25% of any surplus price realized.B acepted as bill of exchange drawn by A amounting to 50% of the invoice price.
in the year 2010 goods consigned by A were invoiced at RS.2,50,000. these goods cost to A RS.2,00,000.(including freight) sales made by B during the year amounted to RS.2,35,000.at the end of the year goods unsold with B represented an invoice value of RS.60,000. during the year,A had recieved from B RS.40,000. by bank drafts,certain remmittences being in transit on 31st december,2010. prepare necessary ledger accounts in the books of both the parties.also show how the consignment stock will appear in the balancesheet.

Related Discussions:- consignment account

Business start up accounting transactions, Business start up accounting tra...

Business start up accounting transactions: Jane Whitfield, a sole proprietor, established the JW Flower Shop on January 2, 2010. The following transactions have occurred during

Fv of the annuity due, Find the current value of the following ordinary ann...

Find the current value of the following ordinary annuities. (Notes: If you are using a financial calculator, you can enter the known values and then press the appropriate key to se

Cash budget, What is a cash budget? How it is useful in managerial decision...

What is a cash budget? How it is useful in managerial decision making?

#accounting concepts, #what are the limitations or disadvantages of account...

#what are the limitations or disadvantages of accounting concept?

What is the sampling unit, What is the objective of performing this test? W...

What is the objective of performing this test? What is the sampling unit? What is the population? These are the questions I am confused on the sampling and population I have som

Short-term solvency, Example of Short-term Solvency             ...

Example of Short-term Solvency                           Current Ratio = Current Assets / Current Liabilities                                                = 5.38

Cash flow estimation and capital budgeting, Cash flow Estimation and Capita...

Cash flow Estimation and Capital Budgeting XYZ Electronics, Inc. is a manufacturer of eBook Readers. Its current model is selling excellently. However, in order to cope with t

The statement of affairs-bankruptcy accounts, The Statement of Affairs ...

The Statement of Affairs The statement of affairs sets out: (a) The various assets of the debtor, at the values they are expected to realise; (b) The creditors, classified acc

The coupon interest rate, Jackson Corporation's bonds have 12 years remaini...

Jackson Corporation's bonds have 12 years remaining to maturity. Interest is paid yearly, the bonds have a $1,000 par value, and the coupon interest rate is 10.5%. The bonds have a

Wilson wonders''s bonds, Wilson Wonders's bonds have 15 years remaining to ...

Wilson Wonders's bonds have 15 years remaining to maturity. Interest is paid yearly, the bonds have a $1,000 par value, and the coupon interest rate is 12%. The bonds sell at a pri

Write Your Message!

Captcha
Order Assignment

Featured Services

Order Now

Popular Subjects

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +91-977-207-8620

Phone: +91-977-207-8620

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd