BAC313 Advanced Accounting 1 I. Explain the difference between agent’s commission and Del credere commission. (6marks) I

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BAC313 Advanced Accounting 1
I. Explain the difference between agent’s commission and Del
credere commission. (6marks) II. On 1/jan.2000,ochwo of Nairobi
consigned 80 cases of medicines at shs 200each to Juma in
Zazimbar.Ochwo paid freight shs,400 and insurance shs 600 on the
total consignment. He received an account sales from Juma on
30/April/2000 showing that Juma has sold 48 cases at shs 30= each
and that he had paid shs 500 customs duty and shs 700 for carriage
on sales. Juma deducted his expenses and commission of 10% on sales
and sent the balance by bank draft. A second account for sales was
received on 30/june/2000, showing that he had sold the remaining
stock at shs 400= per case. He had paid carriage outwards of shs,
800= and there were bad debts of shs, 400=. He deducted his
expenses and commission and sent the balance to Ochow by bankdraft,
Required; show the ledger of Ochow showing the net profit/loss on
receipt of each account sales.