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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.
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Answer Posted / 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 |
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