I want to know how to record the Scrips received by gov. under the scheme VKGUY
1. Whether to show the scrips as the Income
2. As this scrips are transferable so how to record a transcation when i sell the scrips to other person
What will be the Income my company
Please help mne to pass the accounting entries when i received the Scrips (this is received for free from gov.) and when i sell this scrips. and wwhat will be my income
eg. scrips amounting to rs 100 received from gov. for free of cosst and this scrips are sold in the market for rs. 97.
CAclubindia
