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Closing Entry
If we purchase and sale of share at the end of the month if we loss. What entry pass of loss transfer to Profit and Loss Account.
Replies (5)
at the time of purchase it will be
shares a/c ... 100
to bank 100
at the time of sale,
Bank 90
Loss on shares 10
to shares 100
at month end
Pnl 10
to loss.. 10
shares a/c ... 100
to bank 100
at the time of sale,
Bank 90
Loss on shares 10
to shares 100
at month end
Pnl 10
to loss.. 10
P&L Dr. 10
To HDFC Securities or share cr. 10.
is it correct entry for loss transferring to P&L Account
To HDFC Securities or share cr. 10.
is it correct entry for loss transferring to P&L Account
it's but better u make it as a
loss 10
to security 10
& then
pnl 10
to loss 10
for proper presentation and understanding
to security 10
& then
pnl 10
to loss 10
for proper presentation and understanding
ok thanks Mam
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