On 1st April 2013 Abhay of Patna consigned goods costing `7500 to Bhola of Ranchi at a proforma invoice price of 25% profit on sales. The Consignment A/c will be credited for stock loading by –

Related MCQs

• L of Lucknow consigned goods costing ` 60,000 to A of Allahabad at an invoice price bearing 331/3 % mark up on the cost price. Goods costing ` 15,000 were damaged in the transit and the insurance company admitted the claim in full. Expenses incurred by the consignor on loading and transportation of the goods amounted to ` 1,800. The consignee incurred ` 200 on cartage and ` 6,000 as Godown Rent and sold 2/3 of the goods received by him at the invoice price. He is entitled to 5% normal commission and 2.5% del credere commission. Find the value of goods sold
• XYZ send goods worth ` 1,00,000 to Y on consignment basis at 20% above the cost price. The goods are sold by the consignee on a mark of 15% on invoice price. Find the total mark up % over the cost price of the goods —
• From the following details calculate the net profit for the year ending 31.03.2013 Opening Stock ` 1,50,000; Purchase ` 2,50,000; Manufacturing Expenses ` 80,000; Selling Expenses ` 20,000; Administration Expenses ` 10,000; Financial Charges ` 5,000; Slaes ` 5,55,000 which includes damaged goods sold for ` 5,000 against the cost price of ` 12,000. Gross profit margin on normal sales is 20% on the sales
• A sends goods costing ` 1,00,000 on consignment to yield a profit of 20% on cost. What is the invoice price
• A of Assam sent goods costing ` 45,000 to K of Kolkata at cost plus 331/3%. 1/5 of the goods were lost in transit and the remaining was sold at profit of 20% on invoice price. Find the value of sales —
• A sent some goods to B to be sold on consignment basis. 1/10 of the goods valued ` 25,000 were lost in transit. Find the value of goods sent of consignment basis —
• A merchant sends out his goods casually to his dealers on approval basis. All such transactions are, however, recorded as actual sales and are passed through the sales book. On 31st March, it was found that 100 articles at a sale price of ` 200 each sent on approval basis were recorded as actual sales at that price. The sale price was made at cost plus 25%. The amount of stock on approval will be amounting
• Goods are sent to branch at cost plus 20% .If closing stock of the branch is Rs 60,000 at invoice price, Rs____ will be credited to stock reserve a/c.
• A and B enter into a joint venture sharing profit and losses in the ratio of 3:2. A purchased goods costing `2,00,000. B sold 95% goods for ` 2,50,000. A is entitled to get 1% commission on purchase and B is entitled to get 5% commission on sales. A drew a bill on B for an amount equivalent to 80% of original cost of goods. A got it discounted at `1,50,000. What is A's share of profit?
• A trader has credited certain items of sales on approval aggregating ` 60,000 to Sales Account. Of these, goods of the value of `16,000 have been returned and taken into stock at cost ` 8,000 though the record of return was omitted in the accounts. In respect of another parcel of ` 12,000 (cost being `6,000) the period of approval did not expire on the closing date. Cost of goods lying with customers should be