
IAA Consignment Form 2013 free printable template
Get, Create, Make and Sign IAA Consignment Form



How to edit IAA Consignment Form online
Uncompromising security for your PDF editing and eSignature needs
IAA Consignment Form Form Versions
How to fill out IAA Consignment Form

How to fill out IAA Consignment Form
Who needs IAA Consignment Form?
Instructions and Help about IAA Consignment Form
Hi guys in the last video we have seen the introduction of consignment accounts okay now in this video we are going to solve a problem on consignment okay here it is said that Mahesh of Mumbai consigned goods of the cost of rupees 20000 to Alarm of Bangalore okay, so Mahesh has sent goods to Alarm of costing rupees 20000 okay, so Mahesh is the consignor and alarm is the consignee okay then it is said the consignor pays freight of Rs1000 and insurance of Rs500 okay, so Mahesh has incurred some expenses to send the goods to the consignee okay and received an advance of Rs10000 by check from Alarm okay, so Alarm has paid an advance to Mahesh of 10000 okay alright then it is said the consignee paid carriage of Rs300 and outro of the Rs200 okay, so Alarm also has incurred some expenses to receive the goods okay then it is said he sold all the goods for Rs30000 and sent an account sales okay, so he sold the goods he sold all the goods okay and sent an account sales Accounts sales it is a statement containing all the information of what Consignee did how many goods he received okay how much he sold and how much commission he charged etc all right okay then it is said he also sent a check to Mahesh for the amount due after deducting his expenses along with the Commission at 10 on the gross sale proceeds okay, so he sent a check to Mahesh all the money which he received that is 30000 he sent a check to Mahesh after deducting his expenses so all the expenses of Consignee is bear by Mahesh okay then along with the Commission 10 that means consignee is getting a commission of 10 on the gross sale proceeds okay ten 10 on 30000 okay that is the sales okay then it is said prepare the necessary ledger account in the books of Mahesh the consignor okay, so we'll prepare three accounts first one would be Consignment ac and the second one would be the Consignee ac account and the third would be Good sent on consignment ac okay it is very easy okay I will show you how to prepare all those three accounts okay okay okay now we'll prepare all the accounts in the books of Mahesh okay that is the consignor okay all right now consignment account is similar to Trading & PL ac okay in consignment account we record expenses on debit side okay and revenues on credit side okay so consignment account is prepared to find out profit or loss made by the consignment okay so in this question first it is said that Ramesh send the goods to Alarm okay, so he had to purchase these goods before sending it on consignment okay, so that purchase is an expense for Mahesh okay so expense we record it on the debit side of consignment account okay so here we will write this 20000 okay 20000, and we will write here ''To goods sent on consignment okay to good sent on consignment okay next it is given here the Ramesh has incurred some expenses to send the goods okay like freight and insurance of 1000 and 500, so this is also an expense for Mahesh okay, so these expenses will also come on the debit...
Our user reviews speak for themselves
For pdfFiller’s FAQs
Below is a list of the most common customer questions. If you can’t find an answer to your question, please don’t hesitate to reach out to us.
How do I execute IAA Consignment Form online?
How do I edit IAA Consignment Form online?
How do I complete IAA Consignment Form on an Android device?
What is IAA Consignment Form?
Who is required to file IAA Consignment Form?
How to fill out IAA Consignment Form?
What is the purpose of IAA Consignment Form?
What information must be reported on IAA Consignment Form?
pdfFiller is an end-to-end solution for managing, creating, and editing documents and forms in the cloud. Save time and hassle by preparing your tax forms online.
