Trade discount is allowed at the time of sale of goods.

Related MCQs

• Y-draws a trade bill of 12,000 for 6 months on X. After holding the bill for 2.5 months, Y discount the bill with bank @ 10% p.a. The amount of discount on bill is
• X of Delhi send out certain goods at cost + 25% of cost. Invoice value of goods is 1,20,000. 4/5th of the goods were sold by consignee at 1,00,000. Commission @ 2% up to invoice value and 10% of any surplus above invoice. The amount of commission will be
• A purchased goods costing 2,60,000 for joint venture with B. B sold a major part of the goods at cost plus 25% on cost, for 2,50,000. Balance of goods were taken over by B at cost less 10%. Find out profit/loss on Joint Venture.
• A sale of goods to Laxman for cash should be debited to
• ………………………….denote goods brought for sale.
• In a joint venture X and Y sharing p rofit and loss equally, X purchased goods costing of 40,000 and Y sold the goods for 50,000. X is entitled to get 1% commission on purchase and Y is entitled to get 5% commission on sales, the profit will be
• If X co-venture takes away of goods under memorandum Joint Venture Method then he will debit these goods in his books to
• X sends out goods to Y, costing 3,60,000. Goods are to be sold at cost plus 25% on sales. The consignor asked consignee to pay an advance for an amount equivalent to 60% of sales value. The amount of advance will be
• X sends out certain goods to Y, costing 1,50,000 at cost plus 25% on invoice price. ¾ of the goods were sold by R at 1,76,000. Commission 5% upto invoice value a nd 10% of any surplus above invoice value. The amount of commission will be
• A cash book with discount and bank column is called as