Answer to Question #246315 in Accounting for Ravin

Question #246315

Ramswaroop Mela turmeric means Nizamabad consigned 400 quintal turmeric of of Gulbarga at 300 per quintal on 1st July 2004 the consignor paid 6000 towards freight and insurance during transit 10 quintal 10 quintal turmeric was totally destroyed for which the insurance company paid 1,500 in full settlement of the claim delivery of the consignment on 10 July 2004 and accepted a bill drawn on him by ramsarup melo turmeric mills Nizamabad for 30000 for 3 months on 31st July Nathuram nathumal reported that 350 quintals of turmeric was sold at rupees 500 per quintal expenses being as Polo Godown rent 1000 advertisement 1000 salaries and salesman 3000 commission of 5% plus Del credere commission of 5 persent he sold remaining stock of 22500 on credit who were declared bankrupt after one month and pay only 50 paise per rupee was realise from them show the consignment account and nominal account in the books of azmalo turmeric means Nizamabad

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