Prepare the consignment account

Assignment Help Cost Accounting

Reference no: EM13298377

on 1^st 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 1^st 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.

Reference no: EM13298377

Questions Cloud

At what capacitance will the current in the resistor be : A series RLC circuit is connected across a 10.0 kHz source. The 1.2 H inductor and 1000 ? resistor are fixed whereas the capacitor is variable. At what capacitance will the current in the resistor be a maximum

State how many mol of o2 are required to form 3.20 mol fe2o3 : How can you tell from the information provided with the balanced equation. How many mol of O2 are required to form 3.20 mol Fe2O3. How much heat is exchanged when 14.3 kg of iron rusts

What is the speed and direction of the second puck : On a laboratory air table, a puck moving due north at 3.5 m/s collides with an iddentical puck moving at 2.0 m/s, 45 degrees S of W. What is the speed and direction of the second puck

What is difference between ccc expected roe : what is difference between CCC's expected ROE if it finances with 50% debt versus its expected ROE if it finances entirely with common stock?

Prepare the consignment account : Prepare the consignment account in the books of consigner - 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

What is its times-interest-earned ratio : Graser Trucking $12 billion in Assets, and its tax rate is %40. Its Basic Earning Power (BEP) ratio is 15%, and its return on assets (ROA) is 5%. What is its times-interest-earned (TIE) ratio?

Determine ratio for which material cost per pound of ethyle : Ethyl acetate is made from acetic acid and ethyl alcohol. Let x = pounds of acetic acid input, y=pounds of ethyl acohol input, and z = pounds of ethyl acetate output. The relationship of output to input is: z^2/(1.47x - z)(1.91y - z) = 3.9.

Calculate the mass of the second sphere : A 3-kg sphere makes and inelastic collinsion with a second sphere initially at rest. What is the mass of the second sphere

What is jaster market ration : It has 800 million shares of common stock outstanding, and its stock price is $32 per share. What is Jaster's market/book ration?

User Account

All Pages