Accountancy, asked by pvaishnavifacebook, 1 year ago

Paid carriage-outward to hanuman

Answers

Answered by Dhaval1234
1
Journal Entry for Carriage Outwards

Carriage outwards is essentially the delivery expense related to selling of goods. Usually it is an expense for the seller and is charged as a revenue expenditure with the help of a journal entry for carriage outwards.

The product may or may not be for resale, the word “Outwards” shows that the cost is incurred while the goods are being sold by the business i.e. they are going out of the business. It is also called freight-outwards or transporation-outwards.

Carriage OutwardsDebit   To BankCredit

(Paying carriage outwards from bank account)

 

Profit and Loss AccountDebit   To Carriage OutwardsCredit

(Carriage outwards being transferred to the profit and loss account)


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