Is transaction in share market is profitable or not?
If i buy Shares/ Mutual fund Units for Rs. 1000 on 01.04.2013,
Market Value of it on 31.03.2014 Rs. 1200,
I sell it on 30.04.2014 for Rs. 1250.
How can accounting be done ???
(1) Ans 1:
on 31.03.14
Income Receivable Dr. 200 [Current Assets]
Income Cr. 200 [P & L A/c.]
>> and Investment Shown in B/S at Cost on 31.03.14.
On 30.04.2014
Bank Dr. 1250
Investment Cr. 1000
Income Receivable Cr. 200
Income Cr. 50
(2) Ans 2: on 31.03.14
Investment Dr. 200 [Investments]
Income Cr. 200 [P & L A/c.]
>> and Investment Shown in B/S at Market Value on 31.03.14.
On 30.04.2014
Bank Dr. 1250
Investment Cr. 1200
Income Cr. 50
Correct Ans is any of Above, or Any Else ??
Please Suggest me.
- Akash Unadkat
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