Accounting of live stock
This query is : Resolved
17 May 2011
How to account for live stock in the books of accounts.
2. and what is accounting treatment of the following case
Case-1 In a zoo lioness birth to a cub so on what value we shall show the cub.
Case-2 the above cub is a fixed assets or inventory.
2. and what is accounting treatment of the following case
Case-1 In a zoo lioness birth to a cub so on what value we shall show the cub.
Case-2 the above cub is a fixed assets or inventory.
18 May 2011
Live Stock are to be accounted as Fixed Assets for the value it was purchased. Under Live stock account, each individual live stock can be given a name or number and accounted for its purchase value.
2. In the ZOO the cub can be added as another Live stock item and under that Lion No.... with "0" value in the assets register.
3. The cub is a fixed asset
2. In the ZOO the cub can be added as another Live stock item and under that Lion No.... with "0" value in the assets register.
3. The cub is a fixed asset
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