Personal balance sheet
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
29 December 2013
Dear Experts,
Please guide suppose any salaried person wants to make balance sheet with market value of units of Mutual Fund/Shares how to prepare ? E.G. Normally personal b/s are made at acquisition cost only but however if one is perfect and want to make such balancesheet then ? Suppose he has invested Rs.100000/- in MF on 01.04.2012 and its value is RS.118000/- as on 31.03.2013 similarly Rs.100000/- invested in Stocks and its closing price as of 31.03.2013 is 130000/- then how to show in balance sheet ? Please explain and show its entries.
Please guide suppose any salaried person wants to make balance sheet with market value of units of Mutual Fund/Shares how to prepare ? E.G. Normally personal b/s are made at acquisition cost only but however if one is perfect and want to make such balancesheet then ? Suppose he has invested Rs.100000/- in MF on 01.04.2012 and its value is RS.118000/- as on 31.03.2013 similarly Rs.100000/- invested in Stocks and its closing price as of 31.03.2013 is 130000/- then how to show in balance sheet ? Please explain and show its entries.
Nikhil Kaushik
(Expert)
29 December 2013
well the investments would be booked at cost. The difference in cost and current market value should be reflected as MTM gain or loss.
On liability side, create a reserve equivalent to the MTM gains.
On liability side, create a reserve equivalent to the MTM gains.
Message likes :
1 times
29 December 2013
130000 on assets side.. Equity side 100000 initial contribution, 30000 is p&l, credited with unrealized gains.
Message likes :
1 times
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
- Clarification on GST, TDS, and Accounting Provisions for Import/Export Commission Agents,profes. ser
- GSTR9 Annual Return
- Employee secondment
- Clarification on GST, TDS, and Accounting Provisions for Import/Export
- Ito add credit side of bank
- Reward for festival
- TDS Return Statement Status
- Import of Capital Machine
- Appointment of Auditor By Form ADT-1
- Form 144 TDS Return Validation error
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- Resigning a auditor from the company for misconduct
- LLP audit under companies act
- Concept of Vendor and customner reconciliation
- EXPORT PAYMENT
- NRI ITR2 account in 2025-26.
- Query regarding reporting of exempt foreign remuneration in ITR (AY 2026-27)
- INWARD REMITTANCE FOREIGN
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Upload Level ValidationITR3Category of Defect B/D
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
