Question

why the carriage paid at time of purchase is carriage inward?​

Answer 1

Answer:

Hope it helps...

Explanation:

Carriage Inward:- It is paid at the time of bringing Raw-Materials/Goods for the purpose of Sale to the business premises. These kind of expenses is Direct Expenses and is Debited to Trading Account. Carriage Inward A/c - Dr. ... These kind of expenses is an Indirect Expenses and is Debited to Profit and Loss Account.

Answer 2

Fixed assets are not expected to be consumed or converted into cash ..