Who bears the freight when the terms of sale are? (a) FOB shipping point, (b) FOB destination?

Question:

Who bears the freight when the terms of sale are?
(a) FOB shipping point,
(b) FOB destination?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Accounting

ISBN: 978-0324662962

23rd Edition

Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren

See More Books

Question Posted: Aug 27, 2011 09:47 AM

See More Questions

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...
Understanding the freight terms FOB shipping point and FOB destination Required Determine which party, buyer or seller, is responsible for freight charges in each of the following situations: a. Sold...
Who bears the transportation costs when the terms of sale are? (a) FOB shipping point, (b) FOB destination?
The IASB's main objective is to develop a set of high-quality standards for financial reporting by companies at the international level. Required: Critically examine the possibility of achieving this...
Madison Corp. reported the following in the Current Assets section of its comparative balance sheets: .................................................December 31, 2017 ........December 31, 2016...
Fruit flies are used frequently in genetic research because of their quick reproductive cycle. The length of the thorax (in millimeters) was measured for each fly in a random sample of 49 male fruit...
Write the population regression equation for our model. Interpret the meaning of ????0 and ????1.
On December 31, after adjustments, The Jackson Family Farms ledger contains the following account balances. 101 Cash .................$85,500 Dr. 111 Accounts Receivable .......... 21,600 Dr. 121...
Seifield, a telescope company decided to buy some Land. The cash cost of the land was $72,000. Seinfield also had to pay a Commission to the real estate brokers. The amount of that commission was...
Joe and Pete each have two cents in their pockets. They have decided to match pennies; they will each take one of their pennies and flip them. If the pennies match (two heads or two tails), Joe gets...
What is the nature of? (a) A credit memo issued by the seller of merchandise, (b) A debit memo issued by the buyer of merchandise?
During the current year, merchandise is sold for $32,800 cash and $379,500 on account. The cost of the merchandise sold is $250,000. What is the amount of the gross profit?
Show that for the six sided die, the events of throwing an even number and throwing a number less than or equal to four are also independent.
The figure shows a turbine-driven pump that provides water, at high pressure, to a tank located 25-m higher than the pump. Steady-state operating data for the turbine and the pump are labelled on the...
Step 1 Step 2 1. Sketch what step 4 and then step 5 would look like. Step 4 Step S 2. How many black triangles are in each step? Step 1 black A = | Step 2 = 4 black A's step 3 = 13 black D's 3. What...
The pressure cooker pictured here consists of a light pressure vessel with a heavy lid of weight W. When the lid is secured, the vessel is filled with a hot pressurized gas of pressure p. After some...
5) A large group of students took a test in Finite Math where the grades had a mean of 72 and a standard deviation of 4. Assume that the distribution of these grades is approximated by a normal...
Q9 (5 points) According to Dr. Henry Mintzberg, a noted management scholar from McGill University in Montreal, PQ, "business organizations perform only two activities of consequence." What are these...
Calculating WACC Weston Industries has a debtequity ratio of 1.5. Its WACC is 11 percent, and its cost of debt is 7 percent. The corporate tax rate is 35 percent. a. What is Westons cost of equity...
List four items of financial information you consider to be important to a manager of a business that has been operating for a year.
What is an intuitive idea for the meaning of the centroid of a cluster?
Would the use of standards be appropriate in a non-manufacturing setting, such as a fast-food restaurant?
a. Describe the two variances between the actual costs and the standard costs for factory overhead. b. What is a factory overhead cost variance report?
a. Describe the two variances between the actual costs and the standard costs for factory overhead. b. What is a factory overhead cost variance report?
Just work out the assignment on your own sheet, you dont need the excel worksheet. Classic Coffee Company Best friends, Nathan and Cody, decided to start their own business which would bring great...
Financial information related to the proprietorship of Ebony Interiors for February and March 2019 is as follows: February 29, 2019 March 31, 2019 Accounts payable $310,000 $400,000 Accounts...
(b) The directors of Maureen Company are considering two mutually exclusive investment projects. Both projects concern the purchase of a new plant. The following data are available for each project...

Who bears the freight when the terms of sale are? (a) FOB shipping point, (b) FOB destination?

Question:

Step by Step Answer:

a FOB shipping point means that the ownership of the me...View the full answer

Accounting

Students also viewed these Accounting questions