Cartage inwards/outwards (1 Viewer)

[rabsta89]

Hey

can someone plz help and explain to me what cartage inwards/outwards is?

 

[The_Apprentice]

I may be wrong but I'm guessing its the same thing as Freight inwards/outwards; which is the cost (expense) of transporting inventory/goods. It would be listed as a current liability in a Balance Sheet and an expense (selling expense?) in the Income Statement.

But try to confirm this with a teacher or some one who knows what they're talking about ........I did Business Studies last year HSC. Hehe, now I'm doing bloody accounting as a compulsory unit at uni, so this is still familiar to me.

Good luck, I'm sure it's not as complicated as it appears

.

 

[skillz]

Yep, Except Cartage Outwards is classified under the other expenses.

 

[SouthernOwen]

cartage/freight inwards comes under COGS, belongs to trading account

cartage/feight outward comes under selling expenses, belongs to P&L account.

both of them are not appear on the balance sheet...