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Querist : Anonymous

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Querist : Anonymous (Querist)
23 June 2011 why is any consideration received incase of sale of rights is adjusted against investments?
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shakuntala chhangani

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shakuntala chhangani (Expert)
24 June 2011 Hi, the market price of the share increases in anticipation of Right/bonus. so when u buy shares cum right, u pay higher price. for the total price paid (principal + right portion, u pass the following entry:
Investment A/c dr.
To bank a/c
Here, cost of right also get debited to investment A/c. now, if u sell the right without subscribing the shares, it should definitely be credited to investment a/c (as the cost already got debited to invt. a/c)
Regards, CA Shakuntala Chhangani
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