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What is the Journal entry of the Transaction -- The Horse
bought on April 20 died , its carcase was sold for rs.50.
also tell me what is treatment in P/L A/c and Balance Sheet.

Question Posted / srikanta kumar behera

Answers were Sorted based on User's Feedback



What is the Journal entry of the Transaction -- The Horse bought on April 20 died , its carcase was..

Answer / dharmendra

first let me know what type of business was that in which
horse bought and for what purpose that bought.
and secondly the purchase cost of horse.

Is This Answer Correct ?    15 Yes 7 No

What is the Journal entry of the Transaction -- The Horse bought on April 20 died , its carcase was..

Answer / smaity

I think its Bisiness of owning & maintaining of race horses.
Its taxed under "IFOS" of Income Tax

Is This Answer Correct ?    7 Yes 6 No

What is the Journal entry of the Transaction -- The Horse bought on April 20 died , its carcase was..

Answer / sonia d&

Cash A/c.... Dr. 50
To Scrap a/c ... Cr. 50
Being amount receive on the sale of horse carcase.

Is This Answer Correct ?    3 Yes 9 No

What is the Journal entry of the Transaction -- The Horse bought on April 20 died , its carcase was..

Answer / sonia d&

Cash A/c.... Dr. 50
To Scrap a/c ... Cr. 50
Being amount receive on the sale of horse carcase.

Is This Answer Correct ?    2 Yes 9 No

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