accounts pl help

2081 views 3 replies

pl help, thanks in advance

model test paper 4, vol 2, question 57 - A of Mumbai sends goods to B of Delhi , the goods are to be sold at 125% of cost which is invoice price or above. B was entitled to the commission of 10% on sales plus 25% on any surplus realised above invoice price. 10% of the goods sent out on consignment  (invoice value of which is Rs.12,500.00) were destroyed. 75% of the total consignment is sold by B at Rs.100,000.00. The amont of commission payable will be - Ans- Rs.11562.50--How ??

Replies (3)
Invoice Value of10% goods is 12500 so total invoice value of goods sent was rs. 125000 i.e. Cost of goods sent to B= rs. 100000, 75% of goods sold i.e. Cost of goods sold= rs. 75000. . . . . . . 25% of 75000=18250 So normal sale price=75000+18250=93250 but sold by for rs. 100000 i.e. Excess over invoice=6250. . . . . . . . . . . . . . Now commission= 10%of 100000 + 25% of 6250=10000+1562.50= 11562.50. . . . . . . . . . . . . . . . . . . . . . . . Thanks

invoice price of total consigenemnt is 12500*100/10=125000

Invoice price of 75% consignment will be 125000*75/100=93750

Selling price of 75% consigenment is 100000 and surplus which is over invoice price is  100000-93750=6250

Hence the commission will be 100000*10%+6250*25%=11562.50

yes commission will be 11562,5

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
09 June 2026
Accounts Associate

S Madan and CO

New Delhi

Graduate (Any)

View Details
Company
ARTICLESHIP 30 June 2026
Taxation Content Writer Intern

Interactive Media Pvt Ltd.

New Delhi

CA Inter

View Details
Company
ARTICLESHIP 24 June 2026
CA Article Trainee

Rahul Dang & Associates

Pune

CA Inter

View Details
Company
25 June 2026
Accounts & Taxation Executive

Dindukurthy & Associates

Hyderabad

MBA

View Details
Company
25 June 2026
AUDIT MANAGER

JDAS & ASSOCIATES

New Delhi

CA

View Details
Company
ARTICLESHIP 28 June 2026
Article Assistant

Sharma Chetan And Company

Gurgaon

CA Inter

View Details
Company
22 June 2026
Accountant

Global Image Technologies Private Limited

New Delhi

MBA

View Details
Company
29 June 2026
Accountant (Finance & Compliance)

TRIEYEZ

Kolkata

CA

View Details