Q shirts were consigned by Bhagwan & Co of Delhi to Shreyans of Tokyo at a cost of each.
Bhagwan & Co paid freight and insurance
During the transit shirts were totally damaged by fire Shreyans took delivery of the remaining shirts
and paid as custom duty.
Shreyans had sent a bank draft to Bhagwan & Co for as advance payment shirts were
sold by him at each Expenses incurred by Shreyans on godown rent and advertisement, etc.
amounted to He is entitled to a commission of percent.
One of the customers to whom the goods were sold on credit could not pay the cost of shirts.
Prepare the consignment account and the account of Shreyans in the books of Bhagwan & Co
Shreyans settled his account immediately. Nothing was received from insurer for damaged goods.
Ans Profit
