Distinguish between FOB shipping point and FOB destination. Identify the freight terms that will result in a
Question:
Distinguish between FOB shipping point and FOB destination. Identify the freight terms that will result in a debit to Inventory by the buyer and a debit to Freight-Out by the seller.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 58% (17 reviews)
FOB shipping point The term FOB Shipping Point means that the seller del...View the full answer
Answered By
James Warinda
Hi! I’m James Otieno and I'm an experienced professional online tutor with countless hours of success in tutoring many subjects in different disciplines. Specifically, I have handled general management and general business as a tutor in Chegg, Help in Homework and Trans tutor accounts.
I believe that my experience has made me the perfect tutor for students of all ages, so I'm confident I can help you too with finding the solution to your problems. In addition, my approach is compatible with most educational methods and philosophies which means it will be easy for you to find a way in which we can work on things together. In addition, my long experience in the educational field has allowed me to develop a unique approach that is both productive and enjoyable.
I have tutored in course hero for quite some time and was among the top tutors awarded having high helpful rates and reviews. In addition, I have also been lucky enough to be nominated a finalist for the 2nd annual course hero award and the best tutor of the month in may 2022.
I will make sure that any student of yours will have an amazing time at learning with me, because I really care about helping people achieve their goals so if you don't have any worries or concerns whatsoever you should place your trust on me and let me help you get every single thing that you're looking for and more.
In my experience, I have observed that students tend to reach their potential in academics very easily when they are tutored by someone who is extremely dedicated to their academic career not just as a businessman but as a human being in general.
I have successfully tutored many students from different grades and from all sorts of backgrounds, so I'm confident I can help anyone find the solution to their problems and achieve
0.00
0 Reviews
10+ Question Solved
Related Book For
Accounting Principles
ISBN: 9781119707110
14th Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Jill E. Mitchell
Question Posted:
Students also viewed these Business questions
-
Section 1INTRODUCTION TO ACCOUNTING FOR INVENTORY 1. Your calendar year company places the following orders on December 27. Indicate which of the orders will be reflected on this years financial...
-
Understanding the freight terms FOB shipping point and FOB destination Required For each of the following events, indicate whether the freight terms are FOB destination or FOB shipping point. a. Sold...
-
The following are some of the terms discussed in the chapter: 1. Gross profit 2. Perpetual inventory system 3. Cost of goods sold 4. Purchase returns 5. Freight out 6. FOB shipping point 7. Periodic...
-
Make a balance sheet for the following data- One Time Start-Up Costs: Rent Deposit $4,000 Furniture & Fixtures $8,000 Equipment $6,000 Buildout/ Renovations $10,000 Decorating, Painting and...
-
What would have a larger effect on aggregate supply and potential GDP: corporate tax cuts or an equivalent scale increase in government spending on infrastructure and green energy projects?
-
What are your recommendations to Professor Lindsol concerning his interest in launching a new venture specializing in etextbooks?
-
Graphically depict, label, and describe the operations within the System Capability Construct (Figure 10.17). Failed Initial State Deactivated Activate Activated Activated Pre-Capability Operations...
-
Stevenson Apparel is a manufacturer of fashion clothing that has just opened its first large retail store for selling in-season clothes at regular prices. The companys competitive strategy depends on...
-
Suppose you are training a decision tree classifier. As the size of tree grows (the x-axis in the plot shows the number of tree nodes), the classification accuracy curves of training and test data...
-
Assume that the network in Figure 20.34 (previous problem) uses distancevector routing with the forwarding table as shown for each node. If each node periodically announces their vectors to the...
-
Tim Jarosz Company had the following account balances at year-end before adjustment: Cost of Goods Sold $60,000, Inventory $15,000, Utilities Expense $29,000, Sales Revenue $115,000, Sales Discounts...
-
The adjusted trial balance of Sang Company shows the following data pertaining to sales at the end of its fiscal year October 31, 2022: Sales Revenue $820,000, Freight-Out $16,000, Sales Returns and...
-
A 1-in.-thick steel plate measuring 10 in. in diameter is heated from below by a hot plate, its upper surface exposed to air at 80F. The heat-transfer coefficient on the upper surface is 5 Btu/h ft F...
-
Creative excuse defenses are getting more and more popular. Is this beneficial? Why or why not?
-
Explain the difference between a subjective and an objective approach to entrapment.
-
Should the insanity defense be abolished? Why or why not?
-
Identify and define the different tests for insanity used throughout the United States.
-
Explain the difference between diminished capacity and insanity.
-
Aguilera, Inc., has sales of $13.5 million, total assets of $8.7 million, and total debt of $4.1 million. If the profit margin is 7 percent, what is net income? What is ROA? What is ROE?
-
You are thinking of investing in one of two companies. In one annual report, the auditors opinion states that the financial statements were prepared in accordance with generally accepted accounting...
-
Over what period of time should compensation cost be allocated?
-
Define the following terms. (a) Basic earnings per share. (b) Potentially dilutive security. (c) Diluted earnings per share. (d) Complex capital structure. (e) Potential common stock.
-
What are the computational guidelines for determining whether a convertible security is to be reported as part of diluted earnings per share?
-
6. Decarburization is the decrease of the carbon content of (the surface of) a steel due to interactions with the environment at elevated temperatures. This will result in a layer on the surface with...
-
Discussion Topic Activity Time: 3 Hours Directions: Think of the company and the industry you currently work for. (If you aren't currently working, consider your previous employer.) Discuss how your...
-
Research your industry and find common ratios significant to your industry. What are they and what are they telling you about your industry? Be specific as to the ratios relevant to your industry and...
Study smarter with the SolutionInn App