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Please explain freight in and freight out in regards to chart of accounts. I believe that freight in should go to cost of goods sold and freight out is an expense. On the freight out we have both where we charge a customer and when we pay it on orders over $50.00 do they get recorded the same way?
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every year, mother company purchases 8000 units of a part that it needs to produce its prodcut. The supplier notified Mother Company that a price increase will take effect shortly, which will bring the price of the part to $25.00 each. Mother company has an idle facility and considers using it to...
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What does it mean to calculate the funding levels and capital gains based on the company's annual report?
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The company incurs a payroll payable of $645 per weekday of operations. The mondays of January are the 3rd, 10th, 17th, 24th, and the 31st. Paydays are every other Friday with paydays of January 7th & 21st and February 4th for the two weeks ending that date. The Friday, January 21st payday is...
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In a SpreadSheet i.e. Particulars, Opening Balances, Cheque Payments, Petty Cash, Receipts, Journals and Trial Balance all are balanced off except the Trial Balance. Q.1. Do I take fiures from all the accounts mentioned or only from the Journal entries? Q.2. The Opening Balances were given before... View more questions Search
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