Question

is carriage outward is carriage on sales and what is sales return​

Answer 1

Answer:

Carriage inwards is the shipping and handling costs incurred by a company that is receiving goods from suppliers. The most appropriate accounting treatment of carriage inwards is to include it in the overhead cost pool that is allocated to the goods produced in an accounting period. If this is a minor amount, it could just be charged to expense in the period incurred, with no inclusion in the overhead cost pool. Thus, depending on the accounting treatment, it may first appear in the balance sheet as an asset, and then shift to the cost of goods sold in the income statement as goods are sold.

The carriage on sales is carriage outwards as the carriage deals outwardly with the cost of shipping and storage borne by the company when delivering the goods to a customer. It is shown in the income statement in the cost of the goods sold section. This also be presented in the balance sheet asset side.

Carriage outwards is the shipping and handling costs incurred by a company that is shipping goods to a customer. The company may be able to bill customers for this cost; if not, then the company should charge the cost to expense in the period incurred. Thus, the cost of carriage outwards should appear in the income statement in the same reporting period as the sale transaction to which it relates. The cost of carriage outwards usually appears within the cost of goods sold section in the income statement.

Answer 2

The carriage outward is the carriage on scales and sales returns.