WebDec 5, 2024 · G&A expenses are the overhead costs of a business, many of which are fixed or semi-fixed. These costs don’t relate directly to selling products or services but rather to the general ongoing operation of the business. The most common examples are rent, insurance, utilities, supplies, and expenses related to company management, such as … WebDec 16, 2024 · As you describe it, the freight out is a selling expense, not a cost of the goods. COGS includes the costs incurred in getting the goods …

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WebOct 24, 2011 · The operating expenses are sub-classified into cost of goods sold, selling expenses and administrative expenses. Selling expenses are those which are incurred directly on making sales. Examples are: sales commissions, sales salaries, advertising expense, delivery expense and depreciation expense of sales equipment. ... Freight-Out: … boundary falls

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WebFreight-out is an expense account, in which its normal balance is on the debit side. Likewise, in this journal entry, the total assets on the balance sheet decrease while expenses on the income statement increase by the same amount of freight-out cost. Freight-out expense or delivery expense usually has the same function and share the same nature. WebNote 4 – Selling expenses Freight out 175, Salesmen’s commission 650, Depreciation – store equipment 125, Total selling expenses 950, Note 5 – Administrative expenses Officers’ salaries 500, Depreciation – office equipment 300, Total administrative expenses 800, WebPerry Corp. reports operating expenses in two categories: (1) selling and (2) general and administrative. The adjusted trial balance at December 31, 2024, included the following expense accounts: Accounting and legal fees $420,000 Advertising 360,000 Freight-out 225,000 Interest 180,000 Loss on sale of long-term investments 90,000 gucci marmont knock off bag