Match each consignment transaction recorded in the consignor's books on the left with its correct double-entry posting on the right:
- Goods dispatched to the consignee at cost priceDebit Consignment Account, Credit Goods Sent on Consignment Account
- Direct expenses paid by the consignor for freight and insuranceDebit Consignment Account, Credit Cash/Bank Account
- Del-credere commission payable to the consignee for selling goodsDebit Consignment Account, Credit Consignee's Personal Account
- Advance payment received from the consignee via a bill of exchangeDebit Bills Receivable Account, Credit Consignee's Personal Account
Cevap
Goods dispatched matches Debit Consignment Account and Credit Goods Sent on Consignment Account; Direct expenses paid by consignor matches Debit Consignment Account and Credit Cash/Bank Account; Del-credere commission payable matches Debit Consignment Account and Credit Consignee's Personal Account; Advance payment received matches Debit Bills Receivable Account and Credit Consignee's Personal Account.
In the consignor's ledger, the Consignment Account is debited with all costs (cost of goods sent, direct handling expenses, and consignee commissions). The Consignee's Personal Account is credited with advance payments received (such as bills receivable) and commissions earned by the agent.
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Anahtar Kavram
Double Entry Rules for Consignment and Consignee Ledger Accounts in Consignor's Books