WebJun 26, 2024 · Return outwards is also known as purchase returns. The amount of return outwards (or) purchase returns is deducted from the total purchases of the firm. It is treated as a contra-expense transaction. Return outwards holds credit balance and is placed on the credit side of the trial balance. Is return inwards an expense or income? Nearly correct! WebCorrect option is A) Carriage is the expense that is incurred when the goods are transported. Carriage inwards are the costs that are incurred by the buyer at the time of purchase of goods, These are the direct expenses related to procuring of goods and hence would be included in the cost of material consumed or say in the cost of the inventory.
Financial Accounting 1 Final Exam - SUBJECT FINANCIAL
WebCorrect option is A) Carriage is the expense that is incurred when the goods are transported. Carriage inwards are the costs that are incurred by the buyer at the time of purchase of … WebRailage inwards Railage outwards Rent received Returns inwards Sales Salaries and wages Stationery Stock at 1 January 2002: 8 000 23 150 240 2 650 380 3 500 4 000 370 7 500 1 860 93 000 3 300 2 300 1 500 24 000 350 21 000: 500 1 000 1 000 10 400 142 500: 204 700 : 204 700: Adjustments: 1. A further amount of R150 is to be written off in respect ... magical girl with a dark twist
Cost of Sales Formula Calculator (Examples with Excel …
WebA Foreman’s wages, carriage inwards, carriage outwards, raw materials. B Raw materials, carriage inwards, costs of storage of finished goods, plant depreciation. C Plant … WebRailage Outwards R Consumables (if directly related to Turnover/Output) R Royalties (if based purely on Turnover or Output) R Packing Materials R Others (specify) Sub-Total (ii) R Gross Profit (Sub-Totals (i) minus (ii)) as at R WebInventory (opening)Railage inwards 50 000 000. Railage outwardsSalaries 45 000 000. Sales 4 000 000. Sales returnsStationery 25 000 000. Trade payables 45 000. ... (6 000 x 70 ÷ 100) + [(66 000 – 6 000) x 10 ÷ 100] 10 200 Operating expenses 365 000 Railage outwards 45 000 Salaries(600 000 – 15 000) 585 000 ... kittycats dreams of eire 2.0