Accounting Entry
This query is : Resolved
03 March 2010
What is the accounting entry for the gain on sale & sale of mutual funds, whether it should be a compunding entry for both sale and gain
03 March 2010
You may pass seperate entries of purchase and sale or a single entry to record the gain or loss, depending on the data rerquirement of the entity for future reference. If the transaction is one and the same set of instruments/securities only occuring on the same day or time credit for the gain/loss only may be accounted for with all relevant details in the naration.You have not specified the type of entity.
03 March 2010
Can be made both way
Dr.Bank A/c
Cr.Investment A/C
Cr.Gain on sale A/C
If the Loss
Dr.Bank A/c
Dr.Loss on sale A/c
Cr.Investment A/C
Dr.Bank A/c
Cr.Investment A/C
Cr.Gain on sale A/C
If the Loss
Dr.Bank A/c
Dr.Loss on sale A/c
Cr.Investment A/C
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- REGARDING GST ON COMMERICIAL PROPERTY
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- GST on export of services and Input Credit
- ITC temporary reversal and reclaim
- TDS U/S. 194NF
- Applicable TDS rate for sale of property in Nov 2024
- Tds on building rent monthly
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding einvoice taken on nil rated sales
- Strategical investment in Public listed company
Trending Online Classes
CAclubindia
