Accounting of live stock

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Pradeep (Querist)
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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)
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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