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Q. Explain about delivery expense?
When shipping goods FOB destination freight prepaid the seller is accountable for and pays the freight bill. For the reason that the seller cannot bill a separate freight cost to the buyer the buyer shows no entry for freight on its books. The seller though has undoubtedly considered the freight cost in setting selling prices. The following entry is necessary on the seller's books
While the terms are FOB destination the seller records the freight costs as delivery expense this selling expense appears on the income statement with other selling expenses.
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Q. Define Non-operating revenues? Non-operating revenues or other revenues and non-operating expenses or other expenses are revenues and expenses not related to the sale of pro
on 1 april,2007,X Ltd. makes an issu of 10,00,000 equity shares of rs.10 each payable as follows: on application-rs.3;allotment-rs.5;on first call rs.2(3 month after allotment). ap
In earlier times in history, wealthy people utilized 'stewards' to direct their property. These stewards made an account of their stewardship to their owners periodically. This ide
At the end of 2011 Samuda reported a balance in Account receivable of $620,000 and estimated that $12,400 of this account would likely be uncollectible. The allowance for doubtful
State about the Balance Sheet columns of worksheet Balance Sheet columns of worksheet would comprise the amounts from Adjusted Trial Balance columns which are assets, capital,
The percentage analysis of changes of corresponding items in comparative financial statements is referred to as horizontal analysis. A. True B. False
A calculate of the wealth is earned by nations by economic activates all around the world. Gross National Income involves the total value of goods and services produced within a
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