Credit profit and loss account in case of bonus share received
This query is : Resolved
24 November 2024
Credit profit and loss account in case of bonus share received by firm or LLP
entry is
purchase of shares .01
To Profit and loss account .01
is correct entry.
entry is
purchase of shares .01
To Profit and loss account .01
is correct entry.
24 November 2024
Bonus shares are free shares issued to existing shareholders based on their current holdings. The shareholder's total investment in the company remains the same, but the number of shares held increases. No journal entry is needed from the shareholder’s perspective because the bonus shares are simply issued by the company, and no new funds are involved.
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