Web3. Direct expenses are? (a) Carriage inward (b) Carriage outward (c) Carriage outward (d) Both a & c 4. Net Purchases equal the invoice amount and? (a) Plus freight-in, plus discounts (b) Less purchase returns, plus purchase allowances (c) Plus freight-in, less purchase discounts (d) Plus discounts, less purchase returns 5. WebCarriage outwards is also referred to as freight-out, transportation-out, or delivery expense. The cost of carriage outwards should be reported on the income statement as an operating expense in the same period as the revenue from the sale of the goods.

Costing MCQs - Accountancy Knowledge

WebJul 7, 2024 · Carriage outwards is also referred to as freight-out, transportation-out, or delivery expense. The cost of carriage outwards should be reported on the income … WebThe trial balance at year end 31st December, 1993 is as follows: $ $ Sales 12000 Purchases 4500 Radios 3000 Carriage inwards 200 Carriage outwards 300 Returns inwards 600 Returns outwards 500 Wages for … rbc ds leaside

Carriage inwards and carriage outwards — AccountingTools

WebMay 23, 2024 · The gross profit margin is the percentage of revenue that exceeds the cost of goods sold (COGS). The key costs included in the gross profit margin are direct materials and direct labor. WebAug 27, 2024 · Carriage outwards is the shipping and handling costs incurred by a company that is shipping goods to a customer. The company may be able to bill customers for this cost; if not, then the company should charge the cost to expense in the period incurred. People also asking: Which are the 5 main lakes of USA? Is carriage outwards income? WebFeb 25, 2024 · Carriage Outwards is also known as Freight out and may be borne by the Supplier or the Buyer depending on their agreement, although ultimately, the cost is incurred by the Supplier at the time of the delivery of the goods or raw materials. sims 3 mod file download