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Q. What is FOB shipping point?
FOB shipping point signifies free on board at shipping point. The buyer acquires all transportation costs after the merchandise has been loaded on a railroad car or truck at the point of shipment. Therefore the buyer is responsible for ultimately paying the freight charges.
What is Merchandise returns A Return is when a customer returns to the seller part or all items purchased. An Allowance occurs when seller grants a customer a price reductio
SALES DISCOUNTS AND CASH RECEIPTS JOURNAL SALES DISCOUNTS Sales discount is recorded as a reduction in sales revenue. CASH RECEIPTS JOURNAL Source documents: ca
How vital does Accounts receivable for small business and why? Ans) Accounts Receivables help small businesses by giving short-term liquidity. Also continued sales on cre
The major difference in the statement of retained earnings between a service business and a Merchandising business is A. that the retained earnings statement of a merchandisi
state why carriage inwards is stated on the trading account
What is the implication of applying accounting concepts wrongly
journalizing payroll transactions, for Keller Systems;Inc, paid cash for april's payroll tax liability. withheld taxes from april payrolls; employee income tax,$532.00; social se
Q. Can you explain about balance sheet? The balance sheet, sometimes called as the statement of financial position lists the liabilities, company's assets and stockholders' equ
Honolulu Cookie Company provides the following information in order for you to prepare the company's bank reconciliation: Balance per company
journal entry fire insurance claim received for previous year is 50% of its original claim
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