Dear All,
If somebody is trading in the live stock and there is an increased into live stock dan wat will be the entry we have to pass for increased into live stock?
4 Replies
ashish gupta
( student)
(1922 Points)
Replied 15 February 2010
You should treat as purchases as any increase in the items you trade should be taken as the purchases.
CA Harit Kapoor
(Chartered Accountant)
(71 Points)
Replied 16 February 2010
what if a cow we own gives birth to a calf??...what will be the accounting treatment???
Puneet Mittal
(Sr. Officer Accounts)
(212 Points)
Replied 22 February 2010
Dear ,
Please open an accont of calf and whatever exp. incurred by you for calf capitalised them in to the account of calf. When it will be capable for genrate the revenue then stop the capitalisation. and then after exp & revenue will be t.r to revenue a/c.
Regards
Puneet Mittal
First!!!!
(student)
(162 Points)
Replied 22 February 2010
| Originally posted by : Harit Kapoor | ||
 |
what if a cow we own gives birth to a calf??...what will be the accounting treatment??? |
 |
Accounting standard on the same is being prepared which is and ongoing process and there is an IAS on the same.
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