The reason for treating carriage inwards in the trading a...
The reason for treating carriage inwards in the trading account is because
It is an expense on goods sold to customer
Carriage outwards is an expense item in the profit and loss account
It is an expense on goods purchased
It does not appear in the balance sheet
Correct answer is C
Carriage inwards is the cost of transportation charged on goods purchased. It must be added to the goods purchased. Carriage inwards is the cost incurred in order to bring the goods purchased to the present location hence it is debited to trading account.
In public sector accounting, salaries of employees are classified as ...
Carriage outwards is charged to ...
The amount of each invoiced goods sent to the branch is debited to? ...
The total cash and cheques received from customers in a control account is derived from the ...
Books of original entry are used for ...
Recurrent expenditure of government is paid from ...
The cost method of charging goods to branch is used where? ...
In a manufacturing company, wages paid to operatives increase the value of ...
\(\begin{array}{c|c} & N \\ \hline \text{Opening stock of Raw Materials} & 5,800 \\ \text{Cl...