Business, 26.01.2022 22:20 keishlav5183

B, whose accounting year-ends on 31st May 2019 consigned 200 bags of sugar, each costing Sh300 to A of Nairobi on 1 April 2019. He paid Sh1,000 towards freight and insurance, 30 bags were damaged in transit; and on 31st May 2019, the consignor received Sh2,000 on account of the damaged bags from the insurance company. A took delivery of the goods on 10th April 2019 and immediately accepted a bill drawn on him for Sh40,000 for 60 days. On 31st May 2019 the consignee reported that: 140 bags were sold at Sh350 per bag; The damaged bags were sold at Sh110 per bag; and He had incurred the following expenses: Godown rent Sh1,400 Clearing charges Sh1,700 Carriage outwards Sh600 He is entitled to a commission of 10% on the sales proceeds of all goods sold. If A remits the balance due by bank draft on 31st May 2019, prepare the ledger accounts in the books of B. Assume that no portion of expenses incurred by the consignee are attributable to damaged bags.

Answers: 2

Show answers

Other questions on the subject: Business

Business, 22.06.2019 21:00, QueenMiah16

Sue peters is the controller at vroom, a car dealership. dale miller recently has been hired as the bookkeeper. dale wanted to attend a class in excel spreadsheets, so sue temporarily took over dale's duties, including overseeing a fund used for gas purchases before test drives. sue found a shortage in the fund and confronted dale when he returned to work. dale admitted that he occasionally uses the fund to pay for his own gas. sue estimated the shortage at $450. what should sue do?

Answers: 3

continue

Business, 22.06.2019 21:00, kalbaugh

An important source of public scrutiny is "watchdogs." these are: the efforts of a firm's competitors, including how often the competitors attack the firm's strategies. taxpayer-supported government agencies that limit a firm's ability to compete in foreign markets. companies designated by the government to only produce products that support the government defense program. socially conscious groups that make it their mission to measure the social responsibility levels of businesses, and provide consumers with their opinions about the level of corporate responsibility of various companies.

Answers: 2

continue

Business, 22.06.2019 23:20, chrisgaz14

Suppose you manage an upscale restaurant in new york city. would involve writing employee schedules and a list of things to do for the chef and other kitchen staff

Answers: 3

continue

Business, 23.06.2019 23:30, kathleen1010

The net present value method (a) is consistent with the goal of shareholder wealth maximization (b) recognizes the time value of money (c) uses all of a project's cash flows (d) all of the above

Answers: 2

continue

You know the right answer?

B, whose accounting year-ends on 31st May 2019 consigned 200 bags of sugar, each costing Sh300 to A...