Which is better, FOB shipping point or FOB destinstion and why?
Which is better, FOB shipping point or FOB destinstion and why?
Homework Answers
In FOB shipping point, Buyer has to pay freight for the shipment of goods.
In FOB destination, Seller has to pay the freight for the shipment of goods.
So that,
FOB shipping point is better from the seller point of view as freight will be bear by the buyer.
FOB destination is better from buyer point of view as freight will be bear by the seller.
17) Distinguish between the terms of FOB shipping point and FOB destination. Explain who would be...
17) Distinguish between the terms of FOB shipping point and FOB destination. Explain who would be responsible to pay the freight in each case. Smith Company has the following option: It can purchase 100 widgets for $75 dollars per widget basis FOB shipping point, or it can purchase 100 widgets at $80 per widget FOB destination Which is the better option for the Smith Company? Fully explain your answer. (10 points)
(10 points) Merchandise can be shipped FOB (Free on Board) Shipping Point or FOB Destination. If FOB Shipping Point...
(10 points) Merchandise can be shipped FOB (Free on Board) Shipping Point or FOB Destination. If FOB Shipping Point, Circle the appropriate response: Ownership transfers at: Shipping Point Goods in Transit owned by: Buyer Transportation Costs paid by: Buyer Insurance during transit paid by: Buyer Destination Seller Seller Seller If FOB Destination, Circle the appropriate response: Ownership transfers at: Shipping Point Goods in Transit owned by: Buyer Transportation Costs paid by: Buyer Insurance during transit paid by: Buyer Destination Seller...
When a company repays the seller for shipping costs on an FOB shipping point transaction, which...
When a company repays the seller for shipping costs on an FOB shipping point transaction, which of the following is TRUE? O A. A purchase discount can still be taken on the gross amount of the invoice OB. A purchase discount cannot be taken when shipping charges are prepaid OC. A purchase discount can still be taken net of the prepaid shipping charges. OD. The shipping costs do not affect the invoice value
Financial Accounting Questions: Explain what is meant by FOB shipping point and FOB destination.
Financial Accounting Questions: Explain what is meant by FOB shipping point and FOB destination.
FOB (free on board) Shipping Point means there is no charge for shipping the goods from...
FOB (free on board) Shipping Point means there is no charge for shipping the goods from the seller to the buyer. Select one: True False
need a slide show and the links to the information resarch fob destination and fob shipping...
need a slide show and the links to the information
resarch fob destination and fob shipping point and make a 5 slide
powerpoint with pictures
Research the following: FOB destination FOB shipping point • Terms (ex. 1/10,n30) Assignment Requirements: Create and post a PowerPoint presentation • You must be creative by using pictures to describe how merchandise purchases flow through both an FOB destination and an FOB shipping point process. Make sure that the examples are clear enough that the...
Which of the following describes shipping terms of FOB shipping point?
Question 6 Which of the following describes shipping terms of FOB shipping point? The purchaser is responsible for the shipping charges. The shipping charges are debited to Delvery Expense by the buyer. At the end of the year, any items in transit should be included as part of the seller's Inventory. The seller must absorb the cost of shipping the items. Question 8 Michael Corporation bought the beginning of Year 1 paying $25,000 cash and signing an interest bearing not for $50,000. The estimated useful life of...
(10 points) Merchandise can be shipped FOB (Free on Board) Shipping Point or FOB Destination. If...
(10 points) Merchandise can be shipped FOB (Free on Board) Shipping Point or FOB Destination. If FOB Shipping Point, Circle the appropriate response: Ownership transfers at: Goods in Transit owned by: Transportation Costs paid by: Insurance during transit paid by: Shipping Point Buyer Buyer Buyer Destination Seller Seller Seller If FOB Destination, Circle the appropriate response: Ownership transfers at: Goods in Transit owned by: Transportation Costs paid by: Insurance during transit paid by: Shipping Point Buyer Buyer Buyer Destination Seller...
Question One Distinguish between FOB shipping point and FOB destination. Identify the freight terms that will...
Question One Distinguish between FOB shipping point and FOB destination. Identify the freight terms that will result in a debit to Inventory by the purchaser and a debit to Freight-out by the seller The income statement for a merchandising company presents five amounts not shown on a service company’s income statement. Identify and briefly explain the five unique amounts.
Explain the implications relating to ownership when goods are: a. In transit (FOB) Shipping Point b....
Explain the implications relating to ownership when goods are: a. In transit (FOB) Shipping Point b. In transit (FOB) Destination c. On Consignment (25 marks)
17) Distinguish between the terms of FOB shipping point and FOB destination. Explain who would be responsible to pay the freight in each case. Smith Company has the following option: It can purchase 100 widgets for $75 dollars per widget basis FOB shipping point, or it can purchase 100 widgets at $80 per widget FOB destination Which is the better option for the Smith Company? Fully explain your answer. (10 points)
(10 points) Merchandise can be shipped FOB (Free on Board) Shipping Point or FOB Destination. If FOB Shipping Point, Circle the appropriate response: Ownership transfers at: Shipping Point Goods in Transit owned by: Buyer Transportation Costs paid by: Buyer Insurance during transit paid by: Buyer Destination Seller Seller Seller If FOB Destination, Circle the appropriate response: Ownership transfers at: Shipping Point Goods in Transit owned by: Buyer Transportation Costs paid by: Buyer Insurance during transit paid by: Buyer Destination Seller...
When a company repays the seller for shipping costs on an FOB shipping point transaction, which of the following is TRUE? O A. A purchase discount can still be taken on the gross amount of the invoice OB. A purchase discount cannot be taken when shipping charges are prepaid OC. A purchase discount can still be taken net of the prepaid shipping charges. OD. The shipping costs do not affect the invoice value
FOB (free on board) Shipping Point means there is no charge for shipping the goods from the seller to the buyer. Select one: True False
need a slide show and the links to the information
resarch fob destination and fob shipping point and make a 5 slide
powerpoint with pictures
Research the following: FOB destination FOB shipping point • Terms (ex. 1/10,n30) Assignment Requirements: Create and post a PowerPoint presentation • You must be creative by using pictures to describe how merchandise purchases flow through both an FOB destination and an FOB shipping point process. Make sure that the examples are clear enough that the...
(10 points) Merchandise can be shipped FOB (Free on Board) Shipping Point or FOB Destination. If FOB Shipping Point, Circle the appropriate response: Ownership transfers at: Goods in Transit owned by: Transportation Costs paid by: Insurance during transit paid by: Shipping Point Buyer Buyer Buyer Destination Seller Seller Seller If FOB Destination, Circle the appropriate response: Ownership transfers at: Goods in Transit owned by: Transportation Costs paid by: Insurance during transit paid by: Shipping Point Buyer Buyer Buyer Destination Seller...
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