wHAT iS tHE aCCOUNTING (jOURNAL) eNTRY wHEN a cALF (cHILD cOW) iS bORN iN a fARM (Live Stock)?
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Journal Entry
Replies (4)
| Livestock a/c Dr. | |
| TO Capital a/c |
THANK U ANKIT.
i dont think any entry needs to be passed
| 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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