Personal balance sheet
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
29 December 2013
Dear Experts,
Please guide suppose any salaried person wants to make balance sheet with market value of units of Mutual Fund/Shares how to prepare ? E.G. Normally personal b/s are made at acquisition cost only but however if one is perfect and want to make such balancesheet then ? Suppose he has invested Rs.100000/- in MF on 01.04.2012 and its value is RS.118000/- as on 31.03.2013 similarly Rs.100000/- invested in Stocks and its closing price as of 31.03.2013 is 130000/- then how to show in balance sheet ? Please explain and show its entries.
Please guide suppose any salaried person wants to make balance sheet with market value of units of Mutual Fund/Shares how to prepare ? E.G. Normally personal b/s are made at acquisition cost only but however if one is perfect and want to make such balancesheet then ? Suppose he has invested Rs.100000/- in MF on 01.04.2012 and its value is RS.118000/- as on 31.03.2013 similarly Rs.100000/- invested in Stocks and its closing price as of 31.03.2013 is 130000/- then how to show in balance sheet ? Please explain and show its entries.
29 December 2013
well the investments would be booked at cost. The difference in cost and current market value should be reflected as MTM gain or loss.
On liability side, create a reserve equivalent to the MTM gains.
On liability side, create a reserve equivalent to the MTM gains.
Message likes :
1 times
29 December 2013
130000 on assets side.. Equity side 100000 initial contribution, 30000 is p&l, credited with unrealized gains.
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Depreciation of fixed assets- coop housing society in mumbai
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- TDS on Consultancy- Non DTAA
- ADVANCE PAYMENT OF ADVOCATE
- Management System (IMS)
- DIN reactivation
- REGARDING ANNUAL RETURNS FILLINGS OF A COMPANY INCORPORATED ON 28.03.2025
- Eway bill generation from place other than registeted
- GST rate and HSN code for sale of racing horses
- Condonation . E-Verification of last year return .
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
