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Abnormal loss on consignment is credited to _?

 

A). Profit and Loss Account

B). Consignee’s Account

C).Consignment Account

D). None of the three.

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Question ajoutée par Shamseer KM , HR Payroll Officer , Al Darwish Engineering W.L.L
Date de publication: 2015/10/21
Tohidul islam
par Tohidul islam , probationary level , uttara bank limited bangladesh

Answer: option C Consignment Account.

Muhammad Sabith
par Muhammad Sabith , Accountant , SIMORA

.Consignment Account..................

FAROOQ NASIR
par FAROOQ NASIR , ACCOUNTS ASSISTANT , NATIONAL TELECOMM CORPORATION

it should be credited to consignment a/c

Mujeeb Alam FCMA
par Mujeeb Alam FCMA , Costing Manager , Al Sharq Plas LLC

Abnormal Loss Accounting Treatment: Abnormal loss A/C ...........Dr. To consignment A/C For abnormal loss transferred: Profit and loss A/C........Dr. To abnormal loss A/C

Yeah defiantly its option C>>>>>>>>>>>>. 

Anwar Ahmed
par Anwar Ahmed , IT Consultant , Mani Group L.L.C

B). Consignee’s Account

to know the correct profit.

 

IMRAN ALI MOHAMMED
par IMRAN ALI MOHAMMED , Accounts Officer , M/s. Euro Glazing Ltd

Any Abnormal loss on consignmnet is credited to 'Consignment Account' in order to know the exact profit made on the consignment. so the answer is 'C'

Usman Ijaz
par Usman Ijaz , Financial Analyst (FMCG/Sales) , MANUEL TRADING COMPANY/SUPER MARKETS

P&L A/C  Dr.    Consignment A/C Cr. ...... so C is the answer

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