15 January 2015
On 1st February, 2010, Sinha & Co. of Kolkata consigned 150 cases of goods to Mitra & Co. of Delhi. The goods were charged at a proforma invoice of Rs. 15000 including a profit of 25% on cost price. On the same date, Sinha & Co. paid Rs. 800 for delivery charges & insurance. On 1st July, Mitra & Co. paid railway freight Rs. 1200 & Godown rent Rs. 500 and sent to Sinha & Co. Rs. 6000 as advance. On 1st September, they sold 120 cases for Rs. and sent a remittance for the balance due to Sinha & Co. after deducting commision @ 5% on gross sale proceeds. Show ledger accounts in the books of Sinha & Co.
15 January 2015
if exp. paid by the mitra & co. then sinha & co will pay the commission on sold article 120 nos. and 30 nos cost will show good with the agent.
CAclubindia
