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Accounting for Management
Explanations, Exercises, Problems and Calculators
Accounting for consignment
What is consignment? Enlist advantages and disadvantages of consignment form of business.
What is proforma invoice? Who prepares a proforma invoice in consignment?
What is an account sales? What purpose does an account sales serve?
What is the difference between cost price method and invoice price method of sending goods on consignment?
Make journal entries and prepare necessary ledger accounts in the books of consignor as well as consignee.
How the stock on consignment is calculated and treated?
How would you explain the terms recurring and non-recurring expenses?
Compute the value of normal and abnormal loss in consignment.
What is the treatment of normal and abnormal loss in consignment?
What are del credere commission and overriding commission? In which situations the two types of commission are granted to consignee?
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What is consignment?
Difference between consignment and sale
Journal entries in the books of consignor
Ordinary commission in consignment
Journal entries in the books of consignee
Valuation of closing stock on consignment
Valuation and treatment of stock (goods) in transit
Del credere commission and credit sales
Advance on consignment made by consignee
Normal and abnormal loss in consignment
Overriding commission in consignment
Return of goods by consignee
Invoice price method of consignment
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