consignment, Financial Accounting

Assignment Help:
A of surat consigns goods to B of jaipur to be sold at or above price .Be is entitles to get a ommission of 8% on sales at invoice price plus 25% of any surplus price realized. B accepted a bill of exchange drawn by A amounting to 50% of the invoiced price .In the year 2013 goods consigned by A were invoiced at Rs.2,50,000. these goods cost to 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 remittances being in transit on 31st decemnber 2013. Prepare necessary ledger accounts in the books of both thep arties .also show how the consignment stock will appear in the balance sheet.

Related Discussions:- consignment

Income statement preparation, Income Statement Preparation The following i...

Income Statement Preparation The following information is taken from the records of Wadley's Car Wash for the year ended December 31, 2012. Income taxes . . . . . . . . . . . . .

Mortgage, Ask questiJohn’s away at the moment, and his email provider has a...

Ask questiJohn’s away at the moment, and his email provider has a size limit on the data that can be sent via email. What is a potential solution for John, and name a provider that

Is demand elastic or inelastic , The demand curve for a product is given by...

The demand curve for a product is given by Qxd = 2,000 - 5Px + 0.2Pz, Where, Pz = $500. a. What is the own price elasticity of demand when Px = $120? Is demand elastic or inelasti

Preferential debts-distribution of assets-liquidation, Preferential debts ...

Preferential debts These are almost the same as in bankruptcy; with the addition that any person who has advanced money for the payment of wages has the same priority as the pe

Liquidation, The liquidation of the Marks, Norris, Smith, and Savannah part...

The liquidation of the Marks, Norris, Smith, and Savannah partnership:

Strengths and weaknesses of capital asset pricing model, Q. Strengths and W...

Q. Strengths and Weaknesses of Capital asset pricing model? Strengths - Gives a risk adjusted discount rate precise to the project's activities. - Books of betas are r

Brushy mountain mining''s stock, Brushy Mountain Mining Company's ore reser...

Brushy Mountain Mining Company's ore reserves are being depleted, so its sales are declining. Also, its pit is getting deeper every year, so its costs are rising. As a result, the

Calculate the return on investments based on cash flow, This project allows...

This project allows you to think critically and apply decision-making management techniques. In this project,  you need to solve a bond portfolio problem, a diversified portfolio p

Explain the accounting treatment , This is a research case.  You must compl...

This is a research case.  You must complete this assignment INDIVIDUALLY.  This means no help from other students.  You may consult Dr. Eldridge while you are working on this case.

What is process synchronization, Consider an MBA program as a processing ne...

Consider an MBA program as a processing network where the flow unit consists of a student in the program.  Suppose the organizations that hire and promote MBAs are considered to be

Write Your Message!

Captcha
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!

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