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journal entry

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(Querist)
18 February 2011 if we have purchase mutual funds what is entry for the same and the appreciation of fund value entry or decrease in the fund value what is the entry for the same.
kindly tell
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CMA. Subhash Kumar Jha

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CMA. Subhash Kumar Jha (Expert)
18 February 2011 Entry have to be passed only on purchase / sale or revaluation on 31st March.

Purchase : Fund Name A/c Dr.

To Bank A/c Cr.

For appreciation >>> no entry as per the rule of market value or cost , whichever is lower.

For decrease in value & that too on the year ending & if its a permanent type of decrease >>>>
Loss on revaluation A/c Dr.

To Fund Name A/c Cr.
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CA Ratan kandare

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CA Ratan kandare (Expert)
18 February 2011 1- for purchase.

mutual fund a/c dr.( investment)
to cash / bank

2. appropration in value of MF.
no entery required since AS 1 " Discloser of accounting policy, anly discloser required.

3. only loss and gain is calculated on the date of maturity or sale.

if profit then -

mutual fund a/c dr
To Profit & loss

reverse the above entery in case of Loss.
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