This document contains accounting records related to a consignment transaction between multiple parties: 1) Goswami Bros is the consignee who received goods from Sunrise Ltd (the consignor) and sold them, recording the transaction in their books. 2) Sankar is a consignor who sent goods via consignee Sunil. Sankar's books record the goods sent on consignment and payment of expenses and commission to Sunil. 3) Sunil is the consignee who received goods from Sankar. Sunil's books record the sale of goods received on consignment from Sankar and payment of expenses back to Sankar.

1. Consignment Accounting
Dr. NGPASC
COIMBATORE | INDIA
Dr. N.G.P. ARTS AND SCIENCE COLLEGE
(An Autonomous Institution, Affiliated to Bharathiar University, Coimbatore)
Approved by Government of Tamil Nadu and Accredited by NAAC with 'A' Grade (2nd Cycle)
Dr. N.G.P.- Kalapatti Road, Coimbatore-641048, Tamil Nadu, India
Web: www.drngpasc.ac.in | Email: info@drngpasc.ac.in | Phone: +91-422-2369100
RAJAKRISHNAN M
Assistant Professor in Commerce CA

2. Dr. NGPASC
COIMBATORE | INDIA
Books of Goswami Bros (Consignee)
Sunrise Ltd. A/c (Consignor)
Particulars ₹ Particulars ₹
To Bank A/c (Expenses)
To Commission A/c
(7,68,750 x 10 % )
To Bank A/c (Advance)
To Bills payable A/c
To Balance c/d (Due)
5,100
76,875
1,50,000
25,000
5,43,775
By Bank A/c
( Sales – Bad Debts)
( i.e., 7,68,750 – 3,000)
By Bank A/c
(Insurance claim recovered
by the agent for loss by
fire)
7,65,750
35,000
8,00,750 8,00,750
6

3. Dr. NGPASC
COIMBATORE | INDIA
Books of Sankar (Consignor)
Consignment A/c
Date Particulars ₹ Date Particulars ₹
1/1/99
1/1/99
1/1/99
1/1/99
31/3/99
31/3/99
31/3/99
To Goods sent on
Consignment A/c
To Cash A/c
( Packing Exp.)
( 20,000 x 2)
To Bank A/c (Insurance)
To Freight outstanding A/c
To Sunil A/c (Expenses)
To Sunil A/c (Commission)
(11,20,000 x 7.5 %)
To Profit & Loss (B/f)
10,00,000
40,000
6,000
10,000
44,000
84,000
2,16,000
31/3/99
31/3/99
By Sunil A/c
( Sale proceeds :
14,000 x 80)
By stock on
Consignment A/c
(W.N.2)
11,20,000
2,80,000
14,00,000 14,00,000
9

4. Dr. NGPASC
COIMBATORE | INDIA
Books of Sankar (Consignor)
Sunil A/c
Date Particulars ₹ Date Particulars ₹
31/3/99 To Consignment A/c 11,20,000 1/1/99
31/3/99
31/3/99
31/3/99
By Bank A/c (Advance)
By Consignment A/c
By Consignment A/c
By Bank A/c ( B/f)
2,00,000
44,000
84,000
7,92,000
11,20,000 11,20,000
9
Goods Sent on Consignment A/c
Date Particulars ₹ Date Particulars ₹
31/3/99 To Trading A/c (Transfer) 10,00,000 1/1/99 By Consignment A/c 10,00,000
10,00,000 10,00,000

5. Dr. NGPASC
COIMBATORE | INDIA
Books of Sunil (Consignee)
Sankar A/c
Date Particulars ₹ Date Particulars ₹
1/1/99
31/3/99
31/3/99
31/3/99
To Bank A/c
To Bank A/c (Expenses)
To Commission A/c
To Bank A/c (B/f)
2,00,000
44,000
84,000
7,92,000
31/3/99 By Bank A/c (Sales) 11,20,000
11,20,000 11,20,000
9
Commission A/c
Date Particulars ₹ Date Particulars ₹
31/3/99 To Profit & Loss A/c 84,000 31/3/99 By Sankar A/c 84,000
84,000 84,000

6. 6