How to deal with this problem?, Accounting Basics

Assignment Help:

 

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.


Related Discussions:- How to deal with this problem?

Accounting concepts and conventions, what is the implication of applying ac...

what is the implication of applying accounting concepts wrongly

What do you mean by risk management contracts, Q. What do you mean by Risk ...

Q. What do you mean by Risk management contracts? In the normal course of business the Company utilizes a variety of off-balance-sheet financial instruments to manage its expos

Briefly explain the functions of accounting, Question 1 Briefly explain th...

Question 1 Briefly explain the functions of accounting Question 2 Explain the three branches of accounting Question 3 What is single entry system? What are the advantages and

Income statement , Astra Company sells financial calculators and offers ins...

Astra Company sells financial calculators and offers instruction on their use. During its first year it expects to sell 3000 calculators at $30 each and offer 5000 hours of instruc

Concepts, Define Accounting. Briefly explain the accounting concepts which ...

Define Accounting. Briefly explain the accounting concepts which guide the accountant at the recording stage.

You won a lottery which pays $10, You won a lottery which pays $10,000 per ...

You won a lottery which pays $10,000 per year for 10 years (at the end of each year). Assuming a discount rate of 8% calculate the present value of your expected winnings

Accounting, #questiSean Corp. issued a $60,000, 10 year bond at the face ra...

#questiSean Corp. issued a $60,000, 10 year bond at the face rate of 8% annually on 1/1/X0. The market rate was 10%. How much cash will the bond investors receive at the end of the

A vendor reduces an item listed at $140 on july 1st by 20%, A vendor reduce...

A vendor reduces an item listed at $140 on July 1st by 20%, and then reduces it another 25% on September 1st. What is the sale price of the good after the last reduction? A. $7

Journal entry, What are the golden rule of accounting how to pass journal e...

What are the golden rule of accounting how to pass journal entry when strating bussines what

What do you mean by management consulting, Q. What do you mean by Managemen...

Q. What do you mean by Management consulting ? Management consulting or advisory services before Sarbanes-Oxley management advisory services were the fastest growing service ar

Sophie

2/19/2014 3:54:16 AM

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.

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd