wHAT iS tHE aCCOUNTING (jOURNAL) eNTRY wHEN a cALF (cHILD cOW) iS bORN iN a fARM (Live Stock)?
CA Devanshi Gandhi (Ajani)
(FCA DISA Mcom CIFRS & LLB)
(9058 Points)
Replied 28 March 2009
i dont think any entry needs to be passed
CA Anshu Agarwal
(B€ @LW@¥$ ]-[@Pp¥)
(1832 Points)
Replied 29 March 2009
| Originally posted by :Þräßéêr | ||
| " | wHAT iS tHE aCCOUNTING (jOURNAL) eNTRY wHEN a cALF (cHILD cOW) iS bORN iN a fARM (Live Stock)? | " |
if you want to make a entry for it, at which amount you will show the calf?
as per the cost concept the assets are to valued at historical cost or an amount replacing the historical cost (i.e. revalued amount). but in this case there is no historical cost.
so there would be no entry for borne of calf.
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