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Freight account is a contra purchase account true or false?
True
Which account is not classified as a selling expense Freight-Out or Sales Salaries or Advertising Expense or Sales Discounts?
Which account is not classified as a selling expense?
Why don't add freight inward into gross profit account?
You do..? Freight Inwards should be included in the costs of goods sold, as it is a direct cost in getting your goods ready for sale. After you have calculated all your COGS (opening + purchases - closing (-freight inwards (expenses))), it should be subtracted from your sales figure to get your gross profit....I think..?
What are the differentiate freight-in from freight out?
Frieght in is when paid at time of goods purchased while freight out is when paid at the time of sales of products.
What is the journal entry for Freight paid in full with a check?
freight a/c dr to cash
Freight account is a contra purchase account true or false?
True
How many numbers in a fedEx freight account?
8
Which account is not classified as a selling expense Freight-Out or Sales Salaries or Advertising Expense or Sales Discounts?
Which account is not classified as a selling expense?
Purchased merchandise on account 12000 fob shipping point seller added 485 of prepaid freight charges to the invoice how to journalize in purchases journal?
[debit] Merchandise account 12000 [Debit] Freight in 485 [Credit Accounts payable / cash 12485
What is freight management system?
freight charges is a freight charges.it was a freight charges.now it is a freight charges.after it is a freight charges.before it was a freight charges.tomorrow it will be a freight charges.day after tomorrow it is freight charges..yesterday also it was a freight charges.finally it is called freight charges.
What are the classes of freight?
There are several types of freight as below: Advance freight Lump freight Freight pro rata Part delivery Back freight
What is freight collect?
"Freight Collect" is a term used in the freight moving business that means that the freight will be paid by the person receiving the freight. The alternative would be "Freight Prepaid." If you order something, and you pay the shipper for shipping, then they will pay the charges the trucking company charges to move the item. This amount could be more or less than what you give the shipper. If you tell the shipper that you will pay the cost when it arrives, then they will ship it "freight collect," meaning the trucking company will need a check payable to them when they deliver your item. If you have an account with a certain trucking company, then you can request that the shipper use that company so that you maybe billed. It will still be "Freight Collect," but will be automatically billed to you by the company that you use. Most of time "Freight Collect" use in china shipping containers. in the BL there need use freight collect. you can visit here learn more about "Freight collect" skype: haowangjiao56,
Does freight prepaid and freight collect mean the same thing?
No. Freight Prepaid means either the freight is being paid for in the price of the product or being added as a separate line item to the total order. Using prepaid freight the vendor/supplier is compensationg the carrier for the cost. Freight collect means the carrier will bill the consignee for the freight cost. i.e. your account number. To determine which way is the most cost effective depends on the rates you can get vs the rates the vendor will charge. Keep in mind that just because a vendor has a more favorable rate, that does not mean they will pass those cost on to you.
Why don't add freight inward into gross profit account?
You do..? Freight Inwards should be included in the costs of goods sold, as it is a direct cost in getting your goods ready for sale. After you have calculated all your COGS (opening + purchases - closing (-freight inwards (expenses))), it should be subtracted from your sales figure to get your gross profit....I think..?
What is a object that is 1 kilometer?
A long freight train.A long freight train.A long freight train.A long freight train.
What is the difference between freight collect and freight prepaid?
freight prepaid is the shipper pays the freight cost and freight collect is the consignee whom burdens for the cost related.
What is the difference between freight prepaid abroad and freight prepaid?
what is the difference between freight prepaid and freight prepaid abroad
