Collaborate on Consignment Invoice Template for R&D with Ease Using airSlate SignNow

Consignment invoice template for R&D

for students here is the next problem that is problem number 20 so as the problem says at last cycle company Delhi sent hundred bicycles on one that is first January 2012 to Murugan enterprises Madras so we're sending the boats that is at last cycle is and in the woods to Murugan enterprises Madras saw a container is at last company and concern is Murugan enterprises the or destiny they are sending the hundred bicycles will stop the cost of each bicycle was five hundred so the cost price for preparing for manufacturing each bicycle is 500 rupees the cost price is 500 rupees each it was invoiced at 600 it was invited 600 for manufacturing it cost 500 so he has said that in the invoice invoice and voice mails that hasn't received thing or any pro-forma which is sent to the Kansai knee so in that is saying that so it is 600 each so the cost price is 500 and the sending invoice to prices 604 sending to Madras company says that it is 600 rupees but for manufacturing it cost only 500 next at last company in Cree incurred 2,000 on frightened insurance so he has incurred 2,000 rupees was concurred the consignor as in two thousand rupees on frightened insurance and received thirty thousand as an advance from Murugan company and also received a thirty thousand as an advance from Murugan enterprises Murugan enterprises paid 1000s of octree and carriage eight hundred as rent and six hundred as insurance so these are all the expenses of Kansai knee so next by June 30 2012 is sold 100 bicycles so the work that is number of bicycle sent was hundred he also sold hundred those that need so that means there is no closing stock here there is no unsold goods at all completely and let and sakala has been sold for 62,500 so i sold a hundred bicycle for sixty two thousand five hundred next Miraval enterprises are entitled to a commission of ten percent so is entitled to a commission of ten percent on the pro forma invoice that is on the value saint is entitled for 10 percent commission that is ordinary commission on the good scent and twenty percent of any surplus realized twenty percent of surplus profit surplus commission is also given on the surplus value that is more than it has sold any roots if you saw if he has sold the goods more than the involved price he will be given twenty percent of the profit and a body invoice price will stop Murugan enterprises immediately amount due from them by a bank draft so he has paid the entire amount by the bank draft murugan Enterprise prepare ledger accounts in the books of both the parties so here is the adjustments are a given thing so is container at last cycle consign II Murugan enterprise Goods consign what they're sending hundred bicycles so the cost price is five hundred but he's sending it at in was present six hundred so we'll be recording so you will be recording that invoice price itself that is hundred into six hundred sixty thousand so next consigners expenses two thousand and two thousand dollars right and insurance he has received an advance of thirty thousand cans any expenses that is thousand is octo and Karadzic eight and it as rent and six ended as insurance mix coming on to sales so here this says this sold hundred bicycle for sixty two thousand five hundred sale l 62,500 Knox coming on to the Commission so Commission we are two parts ten percent on pro forma pro for moments that is good sent that a sixty thousand into ten percent six thousand and also 20 percent aunt went on surplus realized yes yes yes sold accoutns yes Aldi bicycle at sixty two thousand five hundred right so I sold a goats at sixty two thousand five hundred - what is the value of goods sent at a sixty thousand so 62 since five hundred minus six to eight thousand two thousand five hundred is this surplus realized he has sold a good for extra price of two thousand five hundred that is multiplied by what is the surplus profit surplus Commission given over here for the concern is twenty percent so 22 2500 multiplied by 20 percent is five hundred then hope you been understood this Mullenix coming on to what was supposed to prepare ledger accounts in the books of concern he and consignor right so see it looks coming on to the ledger accounts in the book serve ledger accounts in the books off pan signer who is a container at last company first entries consignment consignment account so i'll be showing you the pro forma i i've been already sent to with the pro forma and also thought to how to prepare that performer what and all will be writing in they perform i told three things will be extra extra we should be record in the consignment account in the consign the fanzine melt book so next coming yes here there is the pro forma right this is the pro forma so what we are supposed to first on the credit said what is there by good sent on consignment account goods returned by concern so as the question there is no records returned by the concern sold will be not recording here by sale by concern is account he has made a sale a sale made a sale so by concern us the concern in murugan enterprises sales we're recorded 62,500 next what is there by consignment stock account load on opening stock so here there is no saying no thing called as opening stock at all there is no opening stock with the concern it so there is no there is no need to write this one if there is an opening stock the profit on that opening stock should be credited but there is no opening stock will not be writing here the next coming to buy con good sent on consignment account lord on good sent on consignment so here is post on a load on good sent on consignment means profit on good sent on consignment what is a profit the container has been put on that coat sent on consignment should be recorded over here right so here the good has been boots has been sent on consignment that means a profit has been loaded on that particular good trait so well ing that by good scent on consignment account load that is profit what is the profit on good scent on consignment profit which or has been imposed on the goods sent on consignment so therefore it's bicycle he said that yes invoice at 600 rupees but the cost of each bicycle was 500 each so hundred rupees was the profit so what is the number of bicycle sent hundred so what is in load now that is hundred so 10,000 rupees is the load that is a profit while sending the goods he has I had a ten thousand worth of 10 thousand worth of profit for the goods well tending to concern itself he has added ten thousand as a profit so you're supposed to create this set so hope I been understood with this set so next what is there yet by consignment stock account closing stock as the sum says they assault all the Android bags there is no closing stock will not be recording this this will be talking later if there is a loss much will be recording here but we still don't know that about it so on the debit side what will be recording to stock on consignment account that is opening stock so in the question there is no opening stock next is good sent on consignment a account oh yes yes auntie boots on consignment so what value that is Android bicycle was sent at 600 rupees each that is the Proform up price 600 each so 60,000 so next is by bank or cash account containers expenses he has recorded the consignment by bank account right and insurance 2000 so next is with consigned the concern his account expenses car expenses of concealing so is the concern e that is Murugan enterprise's expenses what are all these all the expenses of concern in 2008 and Analytics entered seanix coming on today concern is account Commission that is Commission concern is Commission so in the adjustment itself I showed you how to calculate the Commission so yes if you want you can write like this if you can't afford or all circle right you know how to calculate concept permission I have told in the adjustment to Merrigan into Murugan enterprises 60000 into 10 percent that is ordinary Commission and 20 percent on a surplus realized 500 so next year mix what is there next year is true consignment stock Reserve account religious consignment stock Reserve account profit on low in stock so here in the question we doesn't have closing stock at all and I now will that profit on closing stock also will not be incurring that or no next is here is a profit or loss and I suppose to see it so here when we calculate so here the credit side is more than the debit side so why we have a profit on consignment of 1600 so only this much is the difference will be doing from cost price to invoice price here so here next what we'll be preparing that the consign means a counter so there is no changes in concern is a counter Delmond l not come any changes in the consignees account so irritation or orphaned off so here what an already we'll be recording on the credit side so yeah first is by cash or bank account what is this what is recording in the concern is account on a credit surfer string is advance if he has paid any advance missus concern his paid 30,000 worth of advance and also he has incurred the expenses also so that we should record and also expenses thousand eight hundred plus six hundred he has incurred the expenses so thousand plus eight hundred plus 600 that is 2400 the expenses total expenses of consign e next commission of concern out is the commission of scans and a that is 6500 so next coming on to the credit sell or debit said what will be recording sales of concern a sales made by concern II like to consignment account that is sixty two thousand five hundred so men we might hello when we do this the balance in figure it will be on the credit side that is twenty three thousand six hundred so that is the balance in figure this is the balance to be settled so next coming on to what will be writing will be preparing consignment stock account so year CA one more thing you're supposed to write here so by consignment account that is good sent on consignment good sent on consignment we are on it debit said in the previous and all in the cost price what we are recording to trading account if it was 66 you will be writing back tear what happens we should divide it so well much is the exact price of that and what is the profit so this is the exact price of the threading that is a exact price of the goods that is hundred bicycles at 500 is manufacturing price that is hundred by cycles multiplied by 500 each this is a manufacturing goods extra ten thousand is a profit right so we are supposed to write it as two consignment account ten thousand so this orally through two books will be preparing in consignees sorry consigners book cynics coming onto the ledger accounts in the books of concern a there will be preparing only one account as usual no change in that so in the books of Murugan enterprises at last cycle company what will we are calling any can credit side sales made by the sales made by the kansai nice or sales made is extra 2500 and on the debit side all the things he has paid to the consignor for the purpose of selling the goods what and all he has incurred the expenses you'll be writing over here here you will be writing how much is his sales on the debit side what and all the expenses he has incurred for selling the goods should be recorded right in the in the books of Kansai knee can Xena's account will be prepared in that book I'm talking consigners book in the books of Kansai need to cash or bank account advance has been paid thirty thousand two bank account expenses of concern a to Commission expenses incurred so what is how the Commission account Expo Commission paid to the concern he becomes inner should be recorded so next is to Bangkok on destroyed a final settlement made to the consignor by the concern that is twenty three thousand six hundred this is also the balance in speaker so sixty-two 562 507 and I stood with this there is it is some it is not something difficult to understand it is totally same only three accounts that one is sorry only the three points that should be recorded in consignment account all the other books or sale only in the books of consignment in the consignees account consigners account there will be recording three entries that is three things will be changed OPI been understood with this if not understood please ask me I'll be explaining the once again thank you