Accounting entry
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
26 September 2017
We are Investment co & tarading dealing in shares & securites(NBFC) showing share purchases in B/s to under investment say Rs.10/-. In March 2016 we transfer them to stock in trade a/c for Rs.5/-. Now in March 2017 we valued them at market value i.e Rs.15/-. is it right or wrong. If we sale them in 2017 for Rs.2/- then what is the pur price Rs.5 or Rs.10 or Rs.15 pls guide
Amol S Joglekar
(Expert)
26 September 2017
accounting standard says the stock should be valued at COST or MARKET price whichever is lower.
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