Hi i am article in ca firm in malad. I have prepared many personal balance sheet & Computation from bank summery. but i am having query regarding preparing balance sheet of individual having shares trading. how to give effects of shares trading in balance sheet as shares trading is not reflected in bank statement.how to give proper effects for share purchase, shares sale, capital gain on sale and how to show & tally closing shares figure & Closing balance maintained with ( From ledger statement of share broker) shares broker a/c such as india infoline or india bulls
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Capital Gains on Shares
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might b this question for individual so any capital gain arises will be debited or credited in capital account and for other effect it will be adujsted in balance sheet in investment
If you are showing it as business income i. e. shares held as stock in trade then proper purchase & sales entry must be passed and profit / loss will be transferred to capital a/c and balance shares will be shown as stock in trade.
If you are showing shares held as investment then enrty for STCG needs to passed and credited (debited in case of loss) to the capital a/c and balance investment be shown as investment in balance sheet.
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