Kalp Accounting Learning Articles

Loading and Unloading Expenses are those expenses on purchase of goods, which is paid for loading the goods carrier at Seller's delivery point and unloading the goods at Purchaser's storage place/godown. Loading and Unloading Expenses related to purchase of Goods are considered as Direct Expenses. Loading and Unloading Expenses related to sale of Goods are considered as Indirect Expenses. Let's discuss about Journal Entry and Ledger posting on Loading and Unloading Expenses on Purchase of Goods. When Cash is paid towards Loading and Unloading Expenses. The Ledger Accounts affected are : Debit Account : Loading & Unloading Expenses Account Credit Account : Cash Account Journal Entry Ledger Posting In Loading & Unloading Expenses Ledger Account In Cash Account Example : In the Books of M/s.Jagannath Industries goods purchased for ₹3,00,000/- and paid Loading and Unloading Expenses by Cash for ₹1070/- on dt.17/11/2022 to bring the goods to godown. Pass necessary Jour

Carriage Inward Expenses incurred but not yet paid means Expenses raised and posted in Ledger Accounts and Financial Statements in the form of Credit transaction. It is also called Outstanding Expense. In this transaction, Carriage Inward Account shows Debit effect, and Carriage Inward Payable Account shows Credit effect. Journal Entry Ledger Posting   In Carriage Inward Account In Carriage Inward Payable Account. Example : In the Books of M/s.Jagannath Industries goods purchased for ₹2,18,000/- on dt.17/12/2022 and Invoice No.21205 raised by Odisha Transport Agency for ₹11,650/- towards carrying the Goods. Pass necessary Journal Entry and Post them into their respective Ledger Accounts. In the above example  Debit Ledger is : Carriage Inward Account Credit Ledger is : Odisha Transport Agency Account  (This Ledger Account falls under the main Account Head Outstanding Expenses Account/Expenses Payable Account/Carriage Inward Payable Account) Journal Entry Ledger Posting In Carriage Inwa

Carriage Inward Expenses means the expenses in the Books of Purchaser which are made on Purchase of Goods either Raw Material or Trading Goods for bringing the Goods from Seller's place to Buyer's place/godown. Let's discuss about the procedure of Journal Entry and Ledger Posting for Carriage Inward Expenses, when payments are made through Bank Account. On payment of Carriage Inward Expenses through Bank Account(NEFT/RTGS/Cheque/DD/UPI etc.), Carriage Inward Account shows Debit effect and, Bank Account shows Credit effect. Journal Entry Ledger Posting In Carriage Inward Account In Bank Account Example : In the Books of M/s.Jagannath Industries goods purchased for ₹4,70,000/- and paid Carriage through NEFT Ref No-52405321 of HDFC Bank Current Account No-7020 for ₹12,350/- on dt.25/11/2022 to bring the goods to godown. Pass necessary Journal Entry and Post them into their respective Ledger Accounts for Carriage paid. In the above example  Debit Ledger is : Carriage Inward

Carriage Inward Expenses means the expenses in the Books of Purchaser which are made on Purchase of Goods either Raw Material or Trading Goods for bringing the Goods from Seller's place to Buyer's place/godown. Let's discuss about the procedure of Journal Entry and Ledger Posting for Carriage Inward Expenses. When Carriage Inward Expenses are paid through Cash, Carriage Inward Account shows Debit effect and, Cash Account shows Credit effect. Journal Entry Ledger Posting In Carriage Inward Account In Cash Account Example : In the Books of M/s.Jagannath Industries goods purchased for ₹3,00,000/- and paid Carriage by Cash for ₹8,900/- on dt.17/11/2022 to bring the goods to godown. Pass necessary Journal Entry and Post them into their respective Ledger Accounts for Carriage paid. In the above example  Debit Ledger is : Carriage Inward Account Credit Ledger is : Cash Account Journal Entry Ledger Posting In Carriage Inward Account In Cash Account << Previous | Next >&g