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Q. Explain FOB shipping point freight collect?
FOB shipping point freight collect - Buyer both initially pays and incurs the freight chargers. The proper party (buyer) paid the shipment. The buyer debits Transportation-In as well as credits Cash.
FOB destination freight prepaid - Seller both initially pays and incurs the freight charges. The proper party (seller) paid the shipment. The seller debits Delivery Expense as well as credits Cash.
FOB shipping point freight prepaid - Buyer incurs the freight chargers as well as seller initially pays the freight charges. Buyer should reimburse seller for freight charges. The seller debits Accounts Receivable as well as credits Cash upon paying the freight. The buyer debits Transportation-In in addition to credits Accounts Payable when informed of the freight charges.
untangible assets
Q. Show payment of a liability? Accountants are able to easily measure some changes in assets and liabilities such as the acquisition of an asset on credit and the payment of a
How would I do this make it and adjustment account revenue 300.00 of supplies on hand 100.00 of unearned revenue is still unearned at the end of the month Accured salaries are 280
transactions can be even directly entered to the ledger elaborate and explain why journal is necessary
Q. Objective of Recording business transactions? - Use the account as the essential classifying and storage unit for accounting information. - Articulate the effects of busi
MS EXCEL.
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The conventions and rules of accounting are commonly termed as the conceptual framework of accounting. Along with any discipline or body of knowledge, several underlying theoretica
Q. Example of Unearned service fees? Unearned service fees On December 7 Micro Train Company received USD 4500 from a customer in payment for future training services. The firm
Q. Explain about Conservatism? Conservatism The Conservatism means being prudent or cautious and making sure that assets and net income are not overstated. Such overstatements
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