Solution-Create ledger accounts in the books of both the

Create ledger accounts in the books of both the parties

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Reference no: EM132541606

Question 1: Ramana consigned goods worth Rs. 50,000 to Murthy invoicing the same at Rs. 60,000. He has incurred Rs. 10,000 as expenses and drawn a bill on Murthy for Rs. 50,000. Murthy accepted the bill and received the consignment. His expenses are Rs. 10,000. ¾ ths of the goods are sold for Rs. 60,000. Murthy is entitled to a commission of 10% on sales. Create Ledger accounts in the books of both the parties.

Reference no: EM132541606

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Create ledger accounts in the books of both the parties : Create Ledger accounts in the books of both the parties. Ramana consigned goods worth Rs. 50,000 to Murthy invoicing the same at Rs. 60,000.

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Prepare ledger accounts in the books of both the parties : ¾ ths of the goods are sold for Rs. 60,000. Murthy is entitled to a commission of 10% on sales. Prepare Ledger accounts in the books of both the parties.

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Create ledger accounts in the books of both the parties

Reference no: EM132541606

Reference no: EM132541606

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