AID15353: Shri Mehta of Bombay consigns 1,000 cases of goods costing Rs.100 each to Shri Sundaram of Madras.

 100

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Q: Shri Mehta of Bombay consigns 1,000 cases of goods costing Rs.100 each to Shri Sundaram of Madras.

Shri Mehta pays the following expenses in connection with consignment:

 

Rs.

Carriage

Freight

Loading charges

Shri Sundaram sells 700 cases at Rs.140 per case and incurs the following expenses:

Clearing charges

Warehousing and storage

Packing and selling expenses

 

1,000

3,000

1,000

 

850

1,700

600

100

It is found that 50 cases have been lost in transit and  cases are still in transit.

Shri Sundaram is entitled to a commission of 10% on gross sales. Draw up the Consignment Account and Sundaram’s Account in the books of Shri Mehta.

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