The consignor goods worth 50,000 to the consignee and paid expenses 2,500. Consignee paid 500 for freight and 250 for Octroi, Commission of 2,500 paid on sale of 80% goods. What will be the value o closing stock?
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Question 2 of 25
2. Question
1 points
Category: Fundamentals of Accounting & Auditing
X of Kolkata sends out 500 bags to Y costing 400 each at an invoice price of 500 each. Consignor’s expenses 4,000 consignee’s non-selling expenses were sold. The amount of consignment stock at invoice price will be –
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Question 3 of 25
3. Question
1 points
Category: Fundamentals of Accounting & Auditing
S consigned goods of 50,000 to M and pays 5,000 for expenses> Goods worth 10,000 was burnt due to fire in transit and the insurance company accepted a claim of 7,500 then abnormal loss is …….
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Question 4 of 25
4. Question
1 points
Category: Fundamentals of Accounting & Auditing
X sends 500 bags to Y costing 400 each at an invoice price of 500 each. Consignor,s expenses 4,000 consignee’s non-selling expenses 1,000, selling expenses 2,000. 400 bags were sold. The amount of stock reserve will be-
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Incorrect
Question 5 of 25
5. Question
1 points
Category: Fundamentals of Accounting & Auditing
X of Kolkata sends out goods costing 3,00,000 to Y of Mumbai at cost plus 25%. Consignor’s expanses 5,000. 1/10th of the goods were lost in transit. Insurance claim received 3,000. The net loss on account of abnormal loss is
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Question 6 of 25
6. Question
1 points
Category: Fundamentals of Accounting & Auditing
Rahim of Kolkata sends out 1,000 boxes to Ram of Delhi costing 100 each at invoice price of 120 each. Goods send at an invoice price of be credited in general trading will be :…..
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Question 7 of 25
7. Question
1 points
Category: Fundamentals of Accounting & Auditing
Ram of Kolkata sends out 1,000 boxes to Y of Delhi, Costing 200 each. 1/10th of the boxes were lost in transit. 2/3rd of the boxes recived by consignee is sold at cost plus 25%. Sales Value =?
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Incorrect
Question 8 of 25
8. Question
1 points
Category: Fundamentals of Accounting & Auditing
X of Kolkata sends out goods costing 80,000 to Y of Mumbai so as show 20% profit on invoice value. 3/5th of the goods received by consignee is sold at 5% above invoice price. The amount of sales value will be:……..
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Question 9 of 25
9. Question
1 points
Category: Fundamentals of Accounting & Auditing
X sends certain goods at cost plus 25% Invoice value of goods were sends out 2,00,000. 4/5th of the goods were sold by consignee at 1,76,000. Commission 2% up to invoice value. Commission=?
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Incorrect
Question 10 of 25
10. Question
1 points
Category: Fundamentals of Accounting & Auditing
R sends goods costing 1,00,000 to Y at 20% profit on invoice price. 1/10th of the goods were lost in transit. 1/2 of the balance goods were sold. Stock reserve on consignment Stock=?
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Incorrect
Question 11 of 25
11. Question
1 points
Category: Fundamentals of Accounting & Auditing
1,000 kg of apples are consigned, the cost being 3 per kg plus 400 of freight, it is known that a loss of 15% known that a loss of 15% is unavoidable. Cost Per kg=?
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Question 12 of 25
12. Question
1 points
Category: Fundamentals of Accounting & Auditing
Goods sent on consignment Invoice value 2,00,000 at cost plus 33.33%. 20% of the goods were lost in transit. Insurance claim received 10,000. The amount of abnormal loss to be transferred to General Profit & Loss A/c is:……..
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Incorrect
Question 13 of 25
13. Question
1 points
Category: Fundamentals of Accounting & Auditing
X sends 100 boxes to Y costing 200 each. Consignor’s expanses 4,000. Consignee’s non-selling of the boxes were lost in transit 2/3rd of the boxes received by consignee were sold.Value of Consignee Stock=?
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Incorrect
Question 14 of 25
14. Question
1 points
Category: Fundamentals of Accounting & Auditing
Goods sent on consignment 7,60,000. Opening consignment stock 48,000 Cash sales 7,00,000 Consignor’s expansive 20,000. Consignee’s expansive 12,000. Commission 20,000. Closing consignment stock 3,00,000. The profit on consignment is:……
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Question 15 of 25
15. Question
1 points
Category: Fundamentals of Accounting & Auditing
X sends 100 boxes to Y costing 100 each consignor’s selling expanses 500. 3/5th of the goods sold by consignee, 1/2 of the balance goods were lost in consignee’s godown due to fire. The value of abnormal loss will be :……
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Incorrect
Question 16 of 25
16. Question
1 points
Category: Fundamentals of Accounting & Auditing
X sends 1,000 boxes costing 200 each to Y. 1/10th of the boxes were lost in transit. 2/3rd of the remaining boxes sold by consignee at cost plus 25%. The sale value will be :……..
Correct
Incorrect
Question 17 of 25
17. Question
1 points
Category: Fundamentals of Accounting & Auditing
X sends 1,000 boxes to Y costing 20 each. Consignor’s expanses 2,000. 4/5th of the boxes were sold at 25 each. The profit on consignment will be:…….
Correct
Incorrect
Question 18 of 25
18. Question
1 points
Category: Fundamentals of Accounting & Auditing
X purchased 1,000 boxes costing 100 each. 200 boxes were sent to Y at cost plus 25%. 600 boxes were sold at 120 each. The amount of gross profit to be recorded in general trading account will be :……..
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Incorrect
Question 19 of 25
19. Question
1 points
Category: Fundamentals of Accounting & Auditing
P of faridabad sent out goods costing 45,000 to Y of Delhi at cost +33-1/3%. 1/10th of goods were lost in transit. 2/3rd of the goods are sold at 20% above invoice price. The amount of sale value will be:……
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Incorrect
Question 20 of 25
20. Question
1 points
Category: Fundamentals of Accounting & Auditing
M sent goods costing 45,000 to N at cost + 33-1/3% 1/10th of goods were lost in transit. 2/3rd of the goods are sold at 20% above invoice price. 1/2 of the sales are on credit. The amount of credit sales will be :……..
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Question 21 of 25
21. Question
1 points
Category: Fundamentals of Accounting & Auditing
Goods sent out on consignment 2,00,000. Consignor’s expenses 5,000. Consignee’s expanses 2,000. Cash sales 1,00,000 credit sales 1,10,000 Consignment stock 40,000. Ordinary commission payable to consignee 3,000. Del-credere commission 2,000.The amount irrecoverable from customer 2,000. What will be the profit on consignment?
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Incorrect
Question 22 of 25
22. Question
1 points
Category: Fundamentals of Accounting & Auditing
Punjab Cycle of Ludhiana consigned 100 bicycles to Kanpur Cycle costing 1,500 each invoiced at 2,000 each. Kanpur Cycle sent an account sales showing that 80 bicycle had been sold 2,200 each . Kanpur Cycle is entitled to a commission of 5% on invoice price and 25% on any surplus of sale price over invoice price. Commission payable to Kanpur Cycle =?
Correct
Incorrect
Question 23 of 25
23. Question
1 points
Category: Fundamentals of Accounting & Auditing
A sent certain goods so as to show a profit 20% on invoice price 1/10th of the goods were lost in transit. The cost price of goods lost is 20,000. The invoice value of goods sent out is :…….
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Question 24 of 25
24. Question
1 points
Category: Fundamentals of Accounting & Auditing
D of Kolkata consigned 100 transistors sets costing 500 each of s of Patna. The invoice proforma was made at 600 per set. S was entitled to be commission of 7.5% on sales plus 2.5% del-credere commission and 10% of any excess price realized over invoice price. S sold 70 transistor sets at 800 each, 30 of them on credit. Out of which the proceeds of 3 transistor sets could not be recovered because of the disappearance of the customers. Total Commission payable to S=?
Correct
Incorrect
Question 25 of 25
25. Question
1 points
Category: Fundamentals of Accounting & Auditing
X sends goods costing 1,00,000 to Y at cost plus 25% Consignor’s expenses 2,000. 3/5th of the goods were sold by consignee at 85,000. Commission 2% on sales plus 20% of gross sales less all commission exceeds invoice value. Total commission=?
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