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7296 Points
Joined March 2019
Fixed asset a/c includes brokerage, fee and duty in cost of share issue or consideration paid
Fixed asset a/c
Share Capital / Bank a/c
next
Bank a/c
To Income a/c when there is cash inflow from investments
then, assuming you have fixed investments, the carrying value reduction is charged to income statement and it isn’t reversed when the carrying value rises next year.
Loss on investment
To Fixed investment a/c- reduction in carrying amount
&
Fixed investment a/c
To Gain on investment a/c
or
Loss on investment
To Gain on investment To the extent of increase in fixed investments
Finally while disposing the investment
disposal expenses a/c
Bank a/c a/c
To Disposal proceeds a/c
To Bank a/c
To FIxed investment a/c
incase of profit on disoposal