Credit Bank (if paid in cash/bank)
or
Credit Accounts Payable (if accrual)
[Debit] Carriage Inward
[Credit] Cash / bank
Debit carriage inwardCredit cash
both carriage inwards and carriage outwards or debited in the trial balance
carriage inwards is part of the cost of purchasing goods as it occurs when a business has to pay for goods it has purchased to be delivered to its premises
trading account expenses
Yes, it would go in Cost of Goods Sold.
Debit carriage inwardCredit cash
The carriage inwards is an expense added to purchases under COGS. It is a credit entry in the icome statement, thus it reduces the gross profit
both carriage inwards and carriage outwards or debited in the trial balance
debit side of the Trading and Profit & loss Account
carriage inwards is part of the cost of purchasing goods as it occurs when a business has to pay for goods it has purchased to be delivered to its premises
Carriage Inward Including when Raw Material Import/Purchase from other side to Factory or Production house on that time use Carriage inward ( Use Trading A/c) Carriage Outward when
trading account expenses
Yes, it would go in Cost of Goods Sold.
Debit Cash / bank / Account receivableDebit Carriage outwardCredit Sales
carriage inwards is part of the cost of purchasing goods as it occurs when a business has to pay for goods it has purchased to be delivered to its premises
the amount we have to pay on the puerches of any product is called as carrige inward this cost will iclude in the cost of goods sold
Direct expenses refer to all those expenses which are incurred from the stage of purchase till the stage of making the goods insaleable condition.such expenses include the following expenses: (i) freight inwards (ii) import duty (iii) octroi (iv) carriage inwards and cartage inwards (v) wages