Accounting entry
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
26 September 2017
We are Investment co & tarading dealing in shares & securites(NBFC) showing share purchases in B/s to under investment say Rs.10/-. In March 2016 we transfer them to stock in trade a/c for Rs.5/-. Now in March 2017 we valued them at market value i.e Rs.15/-. is it right or wrong. If we sale them in 2017 for Rs.2/- then what is the pur price Rs.5 or Rs.10 or Rs.15 pls guide
26 September 2017
accounting standard says the stock should be valued at COST or MARKET price whichever is lower.
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