accounting entries for share trading done by iinvestor
This query is : Resolved
30 May 2008
Dear Sir,
Please tell me the accounting entries for the
shares purchased and sold by me using online trading facility viz:
1. Purchase of shares with delivery
2. sale of shares with delivery
3. intra day trading (i.e. margin trading)
please illustrate with suitable entries.
please let me know whether share price or only margin should be accounted in case of intra day trading
Thanks
regards
benedict
Please tell me the accounting entries for the
shares purchased and sold by me using online trading facility viz:
1. Purchase of shares with delivery
2. sale of shares with delivery
3. intra day trading (i.e. margin trading)
please illustrate with suitable entries.
please let me know whether share price or only margin should be accounted in case of intra day trading
Thanks
regards
benedict
03 June 2008
simple a/c entry like:
for purchase
shares in a ltd. Dr
to cash
for sales :
cash Dr
to shares in a ltd.
to profit on sale
keep seperate record of transactions settled through delivery and non-delivery, as later is taxable as speculative income.
for purchase
shares in a ltd. Dr
to cash
for sales :
cash Dr
to shares in a ltd.
to profit on sale
keep seperate record of transactions settled through delivery and non-delivery, as later is taxable as speculative income.
05 June 2008
whever u have problem, call me are sms me on 09424515253. through chat we can solve problem. (I am account teacher since 20 years. So many my student get rank in CA Exams.) SUBJECT OF EMAIL SHOULD BE "ONLINE ACCOUNT STUDENT AVAILABLE"
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