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Question

To record unsold stock with Consignee, which of the following entry will be passed in the books of Consignor?

A
Consignment Stock A / cDr.To Consignment A / c
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B
Consignment Stock A / cDr.To Goods sent to Consignment A / c
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C
Goods sent to Consignment A / cDr.To Consignment Stock A / c
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D
Consignment Stock A / cDr.To Stock Reserve A / c
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Solution

The correct option is A Consignment Stock A / cDr.To Consignment A / c
The consignee sells the goods sent on consignment on behalf of the consignor. When the stock remains unsold with the consignee at the end of a period, it will be recorded by the consignor in his books as Consignment stock. So, the entry passed will be:
Consignment stock A/c. Dr.
To Consignment A/c

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