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Q-1: 5 On July 01, 2020, Walton Limited consigned 150 washing machines, costing Tk. 20,000 each, to ABC Electronics. The cost of transporting each washing
Q-1: 5 On July 01, 2020, Walton Limited consigned 150 washing machines, costing Tk. 20,000 each, to ABC Electronics. The cost of transporting each washing machines amounted to Tk. 100 and was paid by Walton. On December 30, 2020, ABC sent a report to Walton indicating that 60 percent of the consigned goods had been sold for Tk. 25,000 each. After finalizing the accounts of the year, ABC remitted the due amount to Walton after deducting a commission of 8%, advertising of Tk. 1,000, and installation costs of Tk. 200 per washing machines sold. Instructions: a) Compute the inventory value of the units unsold in the hands of the consignee. (b) Compute the profit for the consignor for the units sold. (c) Compute the amount of cash that will be remitted by the consignee. +
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