Mr. A has long term shares worth of Rs. 15 lacs against which he enjoys a limit with his broker. i.e. he has not introduced any capital as such. He trades daily in shares for short term or speculation gains. While preparing balancesheet, what will be his capital on liability side? Other items in his Balancesheet will be the closing stock of his shares and P&L.
Kindly guide.
Purchase price of shares will be his capital a/c.
S.B.G. & CO. CHARTERED ACCOUNTANTS
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Goodwin Pumps India Pvt Ltd
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