Login
|
Create Account
+1-415-670-9189
info@expertsmind.com
Submit Homework/Assignment
Get quote & make Payment
Get Solution
consignment account, Financial Accounting
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.
Posted Date: 4/26/2013 3:01:25 AM | Location : USA
Ask an Expert
Related Discussions:-
consignment account, Assignment Help, Ask Question on consignment account, Get Answer, Expert's Help, consignment account Discussions
Write discussion on consignment account
Your posts are moderated
Write your message here..
Related Questions
On January 7, On January 7, 2016, Captec Company purchased $4,175 of suppli...
On January 7, 2016, Captec Company purchased $4,175 of supplies on account . In Captec Company’s chart of accounts , the Supplies account is No. 15, and the Accounts Payable accoun
Define the term relevance - accounting information, Define the term Relevan...
Define the term Relevance - accounting information Accounting information should have the ability to influence decisions. Except this characteristic is present, there is ac
Retirement of a partner, Retirement of a partner When one of the partners...
Retirement of a partner When one of the partners retires ante the others will continue trading, the n it is important that he gets a share of the goodwill that he helped create i
How many shares are now outstanding, 1. Jepsen Corp had the following trans...
1. Jepsen Corp had the following transactions relating to shares of stock: • Issued 1,000 shares • Purchased 100 shares • Re-issued 50 shares • Declared and distributed a 2-1 stock
Estimate the systematic risk of the new investment, Q. Estimate the systema...
Q. Estimate the systematic risk of the new investment? The beta of the comparator company will be utilized to estimate the systematic risk of the new investment. No un-gearing
Redemption of debt, Q. Redemption of debt? Equity finance is permanent ...
Q. Redemption of debt? Equity finance is permanent capital that doesn't need to be redeemed while debt finance will need to be redeemed at some future date. Redeeming a huge am
Determine the types of hedging , Go to your assigned corporation's website ...
Go to your assigned corporation's website and access their latest annual report. Answer the following questions regarding their derivative and foreign currency transactions. 1.
Compute basic and diluted earnings per share, The following information was...
The following information was taken from the books and records of Ludwick, Inc.: 1. Net income $ 280,000 2. Capital structure: a. Convertible 6% bonds. Each of the 300, $1,000 bond
Profit for the period-notes to the accounts, Profit for the period The pr...
Profit for the period The profit for the period has been arrived at after charging the following expenses: Normal 0 false false false EN-US X-NONE
Calculate present value-current yield-interest rates bonds, Present Value o...
Present Value of a Bond 1. Assume that you wish to purchase a 20 year bond that has a maturity value of $1,000 and makes semiannual interest payments of $40. If you require a
Assignment Help
Accounting Assignment Help
Economics Assignment Help
Finance Assignment Help
Statistics Assignment Help
Physics Assignment Help
Chemistry Assignment Help
Math Assignment Help
Biology Assignment Help
English Assignment Help
Management Assignment Help
Engineering Assignment Help
Programming Assignment Help
Computer Science Assignment Help
IT Courses and Help
ExpertsMind Services
Online Tutoring
Projects Assistance
Exam Preparation
Coursework Help
Programming Courses
Engineering Courses
Why Us ?
~Experienced Tutors
~24x7 hrs Support
~Plagiarism Free
~Quality of Work
~Time on Delivery
~Privacy of Work