Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Question - Freight Costs: Freight-In vs Freight Out
When the purchaser directly incurs the freight costs, the account Freight-in is debited. Freight-In is often referred to as Transportation-In. Freight-In is a normal debit balance account. Freight-In is part of cost of goods purchased. Freight costs are not subject to a purchase discount. Purchase discounts apply only on the invoice cost of the merchandise.
In contrast, freight costs incurred by the seller on outgoing merchandise are an operating expense to the seller. These costs increase an expense account titled Freight-Out, or Delivery Expense, which can also be referred to as Transportation-Out. When the seller, agrees to pay the transportation charges on goods they have sold, this expense is a cost of selling merchandise, not a cost of purchasing merchandise
What other ideas do you know about Freight-In vs Freight Out?
Climate-Control, Inc., manufactures a variety of heating and air-conditioning units. The company is currently manufacturing all of its own component parts. An outside supplier has offered to sell a thermostat to Climate-Control for $20 per unit.
lanier company began operations on january 1 2010 and uses the fifo method in costing its raw material inventory.
During the year, assets increase $80,000 and liabilities increase $46,000. What is the equity at the end of the year?
Nature's Own Garden manufactures organic fruit preserves sold primarily through health food stores and on the Web. The company closes for two weeks each.
what are the major staffing policies that global organizations must consider? how must an organization choose among
The company uses the straight-line method of depreciation with no mid-year convention. What is the accounting rate of return on original investment rounded to the nearest percent, assuming no taxes are paid.
Why is documentation important to AIS?
Irene Watts and John Lyon are forming a partnership to which Watts will devote one-half time and Lyon will devote full time
oxford engineering manufactures small engines. the engines are sold to manufacturers who install them in such products
Nellie is evaluating a potential bond purchase that the seller purchased 12 years ago for $4,000. The bond matures 8 years from today.
The Complete Accounting Cycle Without a Work Sheet: Two Months (second month optional) On May 1, 2011, Conrad Sayer opened Conrad's Repair Service. Prepare journal entries to record the May transactions. From the accounts in the ledger, prepare an ad..
Write an approximately 3 page paper. Describe the rules for taxation of each of the following types of income. Each response should be 1/3 to ½ page.
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd