Live stock purchase will figure in
Answers
Explanation:
The breeding, maintenance, and slaughter of livestock, known as animal husbandry, is a component of modern agriculture that has been practiced in many cultures since humanity's transition to farming from hunter-gatherer lifestyles.
Answer:
Livestock purchase will figure in Fixed assets without depreciation.
Explanation:
Livestock include cattle, poultry, sheep, pigs, horses etc.
Livestock are not depreciable assets.
Fixed assets are which give economic benefits over the period of time.
Livestock is excluded for the purpose of depreciable assets.
It belongs to real account. Whenever livestock is purchased, livestock account is debited and cash/ bank account is credited.
Journal Entry:
Livestock A/c---------------Dr
To cash A/c
(Being livestock purchased)