Sem-1 - FY B.Com - Consignment Accounts - Abnormal Loss - CA Ojas B. Mehta - TEAM SARTHAK скачать в хорошем качестве

Sem-1 - FY B.Com - Consignment Accounts - Abnormal Loss - CA Ojas B. Mehta - TEAM SARTHAK

CW Question - Mahendra and Co. of Unjha despatched on consignment 100 table fans of Rs.400 each to Nilesh Bros., Dabhoi. They paid Rs.500 for railway freight, Rs.100 transport charges and Rs.200 for insurance. 10 fans were completely destroyed by accident in transit. Nilesh Bros. paid following expenses : Carriage Rs.200; Clearing Charges Rs.250 and Selling Expenses Rs.1000 and sold 70 fans. Ascertain the value of closing stock and calculate the abnormal loss to be transferred to Profit & Loss Account. HW Question M/s Philips Radio Co of Madras consigned 1000 radios of Rs.80 each to M/s Radio Palace - Mumbai. The consignor paid freight Rs.750, cartage Rs.45 and insurance premium Rs.250. During transit, 100 radios were totally destroyed and the consignee received 900 radios. The consignee paid clearing charges Rs.500, cartage Rs.100, customs Rs.1450 and selling expenses Rs.600. The consignee sold 600 radios: (1) Calculate the amount of Abnormal Loss (2) Calculate the value of Closing Stock. [Ans . Value of Closing Stock - 24,514,/- and Value of Abnormal Loss - Rs.8105/-] HW Question Parikh and Sons has sent 25,000 kgs of Assam Gold Tea on consignment at Rs.150 per kg and spent Rs.25,000 as direct expenses. Due to accident 1000 kgs tea was lost in transit. The Insurance Co. admitted claim of Rs.1,45,000. Pass necessary journal entries in the books of Parikh and Sons. [Ans. Value of Goods lost at cost = 151,000 Rs. and abnormal loss amount Rs.6000/-]