Question
Q5: Canodia oil mills, delhi consigned 500 tins of vanaspati ghee to Aggarwal bros. jal. Each tins cost Rs 132 @ 8 per kg.
Q5: Canodia oil mills, delhi consigned 500 tins of vanaspati ghee to Aggarwal bros. jal. Each tins cost Rs 132 @ 8 per kg. Canodia oil mills paid Rs 50 as carriage Rs. 250 as freight and Rs 200 as insurance in transit. During transit 330 kgs of ghee was accidently destroyed for which the insurance company paid, directly to the consignor, Rs 1250. The damaged tins were sold by Aggarwal bros. at 1100/-. After three months from the date of consignment of goods, Aggarwal bros, reported that 410 tins were sold at Rs150/- per tin and expenses being on go down rent Rs 1500/- labour charges Rs 500/-. Aggarwal bros. are entitled to commission of 4% and 1% del credere. Consignee reported a loss of 33 kgs. Due to leakage. Assuming that Aggarwal bros. paid the amount due by bank draft, show necessary accounts in the books of both the parties.
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