Accounting of live stock

This query is : Resolved

Pradeep (Querist)
Follow

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.

V.Rajan

V.Rajan (Expert)
Follow

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

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

MAYANK

CA.Pinank Arvindbhai Shah

prakash takane

Vijay Singh

ashok jain

Subscribe Now

Accounting of live stock

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Manager- Finance and Compliance

Accountant

GST CONSULTANCY

GST CONSULTANT

CA Final

Senior Executive