Abnormal loss on consignment is credited to

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Posted by:
Rashad Moursi
17-May-2014

A). Profit and Loss Account

B). Consignee’s Account

C).Consignment Account

D). None of the three.

Accounting Auditing Cost Accounting Finance

Question added by Shamseer KM , HR Payroll Officer , Al Darwish Engineering W.L.L
Date Posted: 2015/10/21

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9 Answers

by Tohidul islam , probationary level , uttara bank limited bangladesh

Answer: option C Consignment Account.

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by Muhammad Sabith , Accountant , SIMORA

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

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by FAROOQ NASIR , ACCOUNTS ASSISTANT , NATIONAL TELECOMM CORPORATION

it should be credited to consignment a/c

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by 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

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by Deleted user

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

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

B). Consignee’s Account

to know the correct profit.

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by jefrey mauricio

Answer is ccosignment account

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by 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'

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