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Naveen of nagpur send out 1,000 boxes costing 1,00,000 to deepak of delhi at cost +20% consignor "s expenses were Freight Rs6,000 Insurance Rs2,000 consignee expenses were as follow Loading and unloading expenses Rs10,000 Salesman salary Rs6,000 commission 2% on gross sales what will be the amount of profit if 3/4 goods sold by consignee at Rs1,00,000 A) Rs 5,500 B)Rs6500 C)Rs7,500 D)Rs3500 My answer for this question is 4500 but answer given in book is 3500

10153151 616441875107752 6844265409377433766 n CAKART asked over 1 year ago

Naveen of nagpur send out 1,000 boxes costing 1,00,000 to deepak of delhi at cost +20% consignor "s expenses were Freight Rs6,000 Insurance Rs2,000 consignee expenses were as follow Loading and unloading expenses Rs10,000 Salesman salary Rs6,000 commission 2% on gross sales what will be the amount of profit if 3/4 goods sold by consignee at Rs1,00,000 A) Rs 5,500 B)Rs6500 C)Rs7,500 D)Rs3500 My answer for this question is 4500 but answer given in book is 3500

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6 Answers
Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 Debasish answered over 1 year ago

my answer is 5000 dispatch account include dr side = ip 120000 + distributor exp 8000+ representatives exp 16000 + commission 2000 = 146000 include cr side = deals 100000 + 1/fourth unsold stock 31000 + stacking 20000 = 151000 difference(profit) = 151000 - 146000 = 5000 estimation of unsold stock= stock 1/4*1000*100=25000 sender exp = 1/4*8000 = 2000 proctors exp = 1/4*16000 = 4000 aggregate = (25000+2000+4000) = 31000 figuring of stacking = receipt cost = 100000 + 20% on 100000 = 120000 cost = 100000 stacking = (120000-100000) = 20000

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 shweta answered over 1 year ago

yea its 3500 computation of unsold stock cost of products entrusted = 100000 Add:- dispatcher costs = 8000 (6000+2000) Add :- recipient NRE costs = 10000 ______________ 118000 ______________ for 1/fourth of merchandise = 118000*1/4 = 29500 consingment account dr side = 100000 (GSC ) + 8000 (consingnor exp ) +10000+6000 (proctor cost ) + 2000 (comissin 10000*2%) = 126000 conginment account cr side = 100000(total deals ) +29500 (unsold stock ) = 129500 - 126000 = 3500/ - reply

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 Subhasis Giri answered over 1 year ago

presently costs are 6000+2000+10000+6000+2000 = 26000. shutting stock is 25000 + 1/4(6000+2000+10000) = 25000+4500 = 29500 so benefit on dispatch = 129500 - 126000 = 3500

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 Debasish answered over 1 year ago

the answer or benefit wouldn't change in light of stacking. it is much less demanding to evacuate stacking straightforwardly. be that as it may on the off chance that you wish do the issue with stacking it will be as per the following Consignment A/c To merchandise sent on consignment1,20,000 By products sent on transfer 20,000 (stacking expelled) To Bank A/c(expenses)6000+2000 8000 By deals 1,00,000 To Deepak A/c10,000+6000+2000 18,000 By shutting stock 34,500 To Stock Reserve A/c 5000 To P&L A/c 3500 working notes: shutting stock valuation: 1/4(of receipt cost + non-repeating costs) = 1/4(1,20,000 + 18,000) = 34,500. stock hold 1/4(loading) = 0.25 * 20,000 = 5000. the answer is same in any case;. Stacking is simply get ready records in an unexpected way. benefit and misfortune are not affected in light of stacking

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 Subhasis Giri answered over 1 year ago

computation of unsold stock according to invocie value cost of products transferred = cost of merchandise committed = 12000 Add:- agent costs = 8000 (6000+2000) Add :- recipient NRE costs = 10000 ____________ 138000 ___________ for 1/fourth of merchandise = 34500 valuation for unsold stock according to cost value cost of products entrusted = 100000 Add:- dispatcher costs = 8000 (6000+2000) Add :- proctor NRE costs = 10000 _________ 118000 _________ for 1/fourth merchandise = 118000*1/4 =29500 34500 - 29500 = 5000 ( sotck save ) consingment a/c dr side = 120000(GSC)+ 8000 (consingnor exp ) +10000+6000 (representative cost ) + 2000 (comissin 10000*2%) + 5000(stock save )=151000 conginment account cr side = 20000(Gsc) + 100000(total deals )+ 34500(unsold stock) =154500 154500 - 151000= 3500

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 ambika answered over 1 year ago

Answer is 3,500 as it were.. Dr side of Consignemt record To Goods sent on committal = 1,20,000 + sender costs = 8000 + agent costs = 16000 + commission to consinee = 2000 + stacking on shutting stock ( 120000*1/4 - 100000*1/4 ) = 5000 Total dr side = 1,51,000 Cr side of dispatch record deals by proctor = 1,00,000 + stacking on products sold to representative (1,20,000-1,00,000) = 20,000 + shutting stock [(120000*1/4) + (nonrecurring costs shipper 8000 + recipient 10000)*1/4] = 34500 Total of Cr side = 1,54,500 Therefore benefit = Cr side 154500 - Dr side 151000 = 3500

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Similar Articles like Naveen of nagpur send out 1,000 boxes costing 1,00,000 to deepak of delhi at cost +20% consignor "s expenses were Freight Rs6,000 Insurance Rs2,000 consignee expenses were as follow Loading and unloading expenses Rs10,000 Salesman salary Rs6,000 commission 2% on gross sales what will be the amount of profit if 3/4 goods sold by consignee at Rs1,00,000 A) Rs 5,500 B)Rs6500 C)Rs7,500 D)Rs3500 My answer for this question is 4500 but answer given in book is 3500

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