share transaction
This query is : Resolved
29 March 2010
pls clearify the entry of sale and purch. of share in a day book in lac
example
100 share purchase @ 100/-
100 share sale @ 105/-
can i book as sale and purchase
purchase dr. 10000
sale Cr 10500
or
can i book as net profit
this type of transaction in a day and lacs
cash/bank dr. 500
net profit cr 500
example
100 share purchase @ 100/-
100 share sale @ 105/-
can i book as sale and purchase
purchase dr. 10000
sale Cr 10500
or
can i book as net profit
this type of transaction in a day and lacs
cash/bank dr. 500
net profit cr 500
29 March 2010
In Case, it is a regular business then the first entry of recording sale purchase is to be recorded.
However,if it is done as a speculatiion then the net profit or loss will be recorded..
Experts views solicited.......
However,if it is done as a speculatiion then the net profit or loss will be recorded..
Experts views solicited.......
29 March 2010
when purchased---
investment in shares Dr
To Bank
When Sold----
Bank A/c Dr
To Investment in share
To LTCG or STCG or Share profit
But i agree with Rahul. in case it is regular business you can show as purchase and sell and Shares tto be shown as stock in trade. otherwise above entries are suggested.
investment in shares Dr
To Bank
When Sold----
Bank A/c Dr
To Investment in share
To LTCG or STCG or Share profit
But i agree with Rahul. in case it is regular business you can show as purchase and sell and Shares tto be shown as stock in trade. otherwise above entries are suggested.
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