Accounting Entry

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Ranjith Kumar (Querist)
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03 March 2010 What is the accounting entry for the gain on sale & sale of mutual funds, whether it should be a compunding entry for both sale and gain

M Prabhakar Menon

M Prabhakar Menon (Expert)
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03 March 2010 You may pass seperate entries of purchase and sale or a single entry to record the gain or loss, depending on the data rerquirement of the entity for future reference. If the transaction is one and the same set of instruments/securities only occuring on the same day or time credit for the gain/loss only may be accounted for with all relevant details in the naration.You have not specified the type of entity.

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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03 March 2010 Can be made both way

Dr.Bank A/c
Cr.Investment A/C
Cr.Gain on sale A/C

If the Loss

Dr.Bank A/c
Dr.Loss on sale A/c
Cr.Investment A/C

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