Lecture # 05 || Consignment Accounts|| Advance Accounting ||Question # 5 ||

This channel is specially established with aim to serve the commerce students with reference to practical and syllabus oriented problems. This video is on the topic of Consignment Account which included in the course pack of Intermediate, bachelor as well as Master classics. "Act of sending goods from Consignor (principle/manufacturer/owner of goods) to Consignee (his agent), who agree to receive,store, and sales on the behalf of consignor for commission bases is called Consignment. Consignor records the sending of goods in consignment outward book and consignee records these goods in the consignment inward book as received. Commission calculation always on sale price along with two parameters,1) Normal sale price 2) any surplus price charged. Details of general entries and necessary ledger kept by both parties consignor and consignee are explain in the video. Practical question are chosen from the past papers that is most beneficial for the students. #Consignment_Account #Home_of_Accountancy #Nuaman_Khalid #B_COM #Free_lectures