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Create ledger accounts in books of mango coal company

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Reference no: EM132541775

Question 1: On 1st June Mango Coal Company consigned 2,000 tonnes of coal invoiced at Rs. 100 per tonne. The pit cost of the coal and railway freight were Rs. 75 and Rs. 20 per tonne respectively. On 25th June as account sales was received from the agent showing 1,000 tonnes sold for Rs. 160 per tonne. Selling Expenses Rs. 8.800. insurance Rs. 1,200. Brokerage and Commission 2 ½ %. The consignee enclosed a bill for the balance and reported a shortage of 40 tonnes on the whole consignment. Show ledger accounts in the books of Mango coal Company.

Reference no: EM132541775

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