Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Q1. Mr. Kareem of Dubai consigned to Mr. Abdalia of Abu Dhabi on 1 June, 2016, 200 sports cycle 1,500 per cycle at cost. Abdalia

image text in transcribed
Q1. Mr. Kareem of Dubai consigned to Mr. Abdalia of Abu Dhabi on 1 June, 2016, 200 sports cycle 1,500 per cycle at cost. Abdalia accepted of " 1,00,000 B/h on 3rd June 2016. Kareem discounted it from bank at " 90,000 and paid "3,000 wages, "2,000 ralway freight and "1,000 packing expenses. Abdalla paid 1,000 for unloading. 500 tax and 2,000 go down rent. Abdalla received 5% general commission and 2\% Delcredere commission. Abdalla sold 100 cycles for cash at " 1800 per cycle and 50 cycles on credit 2 * 2000 per cycle. Abdalla sent account of sale and after deducting expenses and commission on 30 June, 2016 . Prepare a Consignment Account (All the values are in AED)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

More Books

Students also viewed these Accounting questions

Question

2. Are you varying your pitch (to avoid being monotonous)?

Answered: 1 week ago

Question

3. Are you varying your speaking rate and volume?

Answered: 1 week ago