accounting entries for share trading done by iinvestor

This query is : Resolved

benedict (Querist)
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30 May 2008 Dear Sir,
Please tell me the accounting entries for the
shares purchased and sold by me using online trading facility viz:
1. Purchase of shares with delivery
2. sale of shares with delivery
3. intra day trading (i.e. margin trading)

please illustrate with suitable entries.

please let me know whether share price or only margin should be accounted in case of intra day trading

Thanks
regards
benedict

CA. Yayati Tyagi

CA. Yayati Tyagi (Expert)
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03 June 2008 simple a/c entry like:

for purchase

shares in a ltd. Dr
to cash

for sales :

cash Dr
to shares in a ltd.
to profit on sale

keep seperate record of transactions settled through delivery and non-delivery, as later is taxable as speculative income.

jaygulani

jaygulani (Expert)
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05 June 2008 whever u have problem, call me are sms me on 09424515253. through chat we can solve problem. (I am account teacher since 20 years. So many my student get rank in CA Exams.) SUBJECT OF EMAIL SHOULD BE "ONLINE ACCOUNT STUDENT AVAILABLE"

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