WAEC Financial Accounting 2008 Question 42

Question 42

Final Accounts of a Sole Trader

Carriage inwards is posted to

  1. A.Trading Account
  2. B.Profit and Loss Account
  3. C.Appropriation Account
  4. D.Balance Sheet.
Show the answer and explanation

Answer: A (Trading Account)

Explanation

Carriage inwards is part of cost of goods, in the trading account.