Journal Entry.
This query is : Resolved
Guest
Guest
(Querist)
03 February 2010
A is doing Share Trading business.
1. A gives cheque for initial margin to
say Sharekhan.
What is the journal entry ?
2. A buys 10 Shares of IDEA Cellular ?
What is the journal entry ?
3. A sells 10 Shares of IDEA Cellular ?
What is the journal entry ?
4. A gives cheque for the obligation of
10 Shares of IDEA Cellular to Sharekhan.
What is the journal entry ?
5. How do create ledger and under what
account head,'Sharekhan' shall
appear in Tally.
6. How do create ledger and under what
account head, 'Purchase & Sale of IDEA
Cellular Shares' shall appear in Tally.
Await experts' advise / views / suggestions.
1. A gives cheque for initial margin to
say Sharekhan.
What is the journal entry ?
2. A buys 10 Shares of IDEA Cellular ?
What is the journal entry ?
3. A sells 10 Shares of IDEA Cellular ?
What is the journal entry ?
4. A gives cheque for the obligation of
10 Shares of IDEA Cellular to Sharekhan.
What is the journal entry ?
5. How do create ledger and under what
account head,'Sharekhan' shall
appear in Tally.
6. How do create ledger and under what
account head, 'Purchase & Sale of IDEA
Cellular Shares' shall appear in Tally.
Await experts' advise / views / suggestions.
03 February 2010
In your Transaction all are Payment & Receipt entries
1.Margin money Dr
To Bank - Giving chq is payment entry not Journal
2.Investment share -Idea cellular Dr
To Bank -This also not journal
3.Bank A/c
To Investment share- Idea Cellualr
4. Sharekhan A/c
To Bank
As my view Sharkhan is Creditor for you
Shares of IDEA Cellular can be grouped Under Investments ( Assets) or you are purchase trading purpose group under Current assets
1.Margin money Dr
To Bank - Giving chq is payment entry not Journal
2.Investment share -Idea cellular Dr
To Bank -This also not journal
3.Bank A/c
To Investment share- Idea Cellualr
4. Sharekhan A/c
To Bank
As my view Sharkhan is Creditor for you
Shares of IDEA Cellular can be grouped Under Investments ( Assets) or you are purchase trading purpose group under Current assets
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