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How to create account for barter transactions? As My Company is providing a service to another company and that company is reimbursing us with his service.
Function and scope of the Accounting Standards Board: The major function of ASB is to originate accounting standards so that the Council of the Institute in India may set up su
Q. What is transposition or slide error explain? When the trial balance doesn't balance try re-totalling the two columns. If this step doesn't locate the error divide the diffe
briefly explain the accounting concepts which guide the accountant at the recording stage
What is OWNER'S EQUITY Difference between Liabilities and Assets is Owner's Equity. The can also be known as capital, proprietorship, or net worth.
Q. Advantages and Disadvantages of FIFO? FIFO: Advantages (a) FIFO is easy to apply (b) the assumed flow of costs habitually corresponds with the normal physical flow of goods
Q. Explain about Freight collect? Freight collect indicates the buyer should initially pay the freight bill on the arrival of the goods. To demonstrate the use of these terms s
Illustrate the subsequent Accounting Concepts: a) Dual Aspect concept b) Materiality concept c) Matching concept d) Conservatism concept
contractee account is it an assets account or expenses Account
A of Surat consigned goods to B of Jaipur to be sold at or above invoice price. B is entitled to get a commission of 8% on sales at invoice price plus 25% of any surplus price real
Corporations frequently invest in securities issued by other corporations. Some investments are acquired to secure a favorable business relationship with another company. On the ot
Firstly, clear mark or file all barter income and expense documents as "bartering," and retain all original source documents pertaining to your barter transactions. You are require to credit - Bartering Income and then debit the expenses for the services your company received.
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