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CA CPT Dec 2017 Question Paper Fundamentals of Accounting for online practice

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Question : 34

Total: 60

MN of Mumbai sent out goods costing ₹ 4,00,000 to QR of Delhi on consignment basis.Consignee is paid an ordinary commission of 2% and a delcredere commission of 3%on sales. The entire goods were sold by consignee for ₹ 5,00,000. However, the consignee could recover ₹ 4,92,000 from the trade receivables. In the books of consignee, the commission to be transferred to profit & Loss A/c will be :

₹ 25,000
₹ 17,000
₹ 20,000
₹ 33,000

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