Journal entry of Bonus shares received in the case of Individual,HUF and LLP

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This discussion covers how to handle bonus shares received by individuals, Hindu Undivided Families (HUFs), and Limited Liability Partnerships (LLPs). It clarifies that since no payment is made for bonus shares, no traditional journal entry is typically passed. Instead, the focus is on updating the number of shares held to reflect the bonus issue, with the total value being the sum of current holdings plus the bonus shares.

Daya

Daya (Querist)
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23 April 2023 journal entry of bonus shares received in the case of individual ,HUF and LLP
and also what should be taken value.
Please reply

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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24 April 2023 No value paid for it hence no journal entry can be passed.
Increase the no of shares held due to bonus share.

Daya

Daya (Querist)
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03 August 2023 sir,
how to make changes in bonus share while received in the case of LLP received .
whether change in Tally current holding + Bonus share = Total value.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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03 August 2023 Yes you are right..
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