Accounting Answers

10. What do you understand by proforma invoice?
11. What is abnormal loss of stock?
12. What is normal loss of stock?
13. What is a consignment account?
14. What is the accounting treatment for abnormal loss of stock and normal loss of stoc
15. How the value of unsold stock with the consignee can be calculated?
16. What will be the entries in consignor arid consignee books for goods sent on consig
17. Pass the entries for expenses paid by consignor in consignor and consignee books.IS. What entries will have to be made for receiving advance from consignee in
consignee books? ,
19. Pass the entries if the consignee has accepted a bill of exchange as an advance iiconsignee books.
20. Show the entries for expenses paid by consignee in the consignor and consignee bo
21. For goods sold by consignee, pass the entries in consignor and consignee books.
22. Show the entries for goods sold on credit by consignee in consignor and consignee
23. What will be the entries for commission in consignor and consignee books?
24. - Pass the entries for del-credre commission in consignor and consignee books.
25. Pass the entries for goods taken over by consignee for personal use -in consigncbooks.
26. Show the entries for payment of expenses by consignee personally in consignobooks.
27. Pass the entries for bad debts if the consignee receives the del-credre commissionconsignee books.
28. Pass the entries for bad debts .if the consignee does not receive the del-credriconsignor and consignee books.
29. Show the entries for unsold stock with the consignee in consignor and consignee b
30. What will be the entry for abnormal loss of goods in consignor book, if it is not ins
31. Pass the entries for final payment by consignee to consignor in cash or bank draftconsignee books.
32. What entries will have to be made for final payment by accepting a bill of exchaiin consignor and consignee books?
33. Pass the entries for profit earned on consignment in consignor and consignee book
34. Show the entries for loss on consignment in consignor and consignee books.
35. , What will be the entry when the goods sent on consignment transferred to tr;
consignor book?
36. Show the formula to calculate the value of adjusted per unit cost in case of normal
37. Show one specimen for account sales.
38. Calculate the value of unsold stock in consignment from the following particuli200 @ Rs. 75 each; expenses paid by consignor Rs. 550; unloading expenses pRs. 200; total cases sent on consignment 600.
39. Calculate the value of adjusted per unit cost in case of normal loss from the follov

(a) Original cost of goods consigned Rs. 300,000
(b) Direct expenses Rs. 5,000
(c) Total units of goods Rs. 1,000Units sold