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Livestock

This query is : Resolved 
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(Querist)
22 January 2009 Dear All,

Can anybody tell me the accounting treatment of imported cows for a diary project?
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Deepak Agrawal

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Deepak Agrawal (Expert)
22 January 2009 It can be capitalized...

Livestock A/c... Dr
To Cash / Bank / Creditor
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CA Jithesh C

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CA Jithesh C (Querist)
23 January 2009 Thank You..
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CA. Sahendra Jaiswar

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CA. Sahendra Jaiswar (Expert)
23 January 2009 It is simply treated as Asset and to be capitalised.
The Accounting entry is

Livestock A/C Dr.
To Suppliers A/C

And

Suppliers A/C Dr.
To Bank A/C

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