CBSE Class 11-commerce Answered
Why carriage inwards and outwards both are written in debit balance in trial balance?
Asked by jhakanishka480 | 04 Sep, 2019, 01:15: PM
Expert Answer
The amount of transportation cost spent by the purchaser of the goods is termed as Carriage Inwards and the cost incurred by the seller of goods to deliver the goods sold to customers is termed as Carriage Outwards.
Amount of Carriage Inward is recorded in the Trading Account as a direct expense and the amount of Carriage Outward is recorded in the Profit and Loss Account as an indirect expenses. Since, both the amounts are recorded as expenses, they will have a debit balance and therefore, in the Trial Balance also, they will be shown in the debit column as debit balances.
Answered by Surabhi Gawade | 05 Sep, 2019, 11:57: AM
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