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Changes in Trade Receivables

Which of thes...

Question

Which of these a/c is closed by transferring to debit side of Trading a/c?

A

Rent a/c

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B

Carriage inward

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C

Depreciation on plant

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D

Factory rent

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Solution

The correct option is B Carriage inward
The carriage inward account is written off to the trading account at the end of accounting period. When the buyer sells the goods to his customer, he incurs further delivery charges. The cost is referred to as "carriage outward".

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Changes in Trade Receivables

Standard XII Accountancy

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