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investment account
sale of right issue (which is not acquired by trader) is based on the price at which original shares acquired.
original share are shares on which right shares offered by the company.
alt1: when original shares acquired at cum right price, then sale value of right issue is credited to INVESTMENT A/C.
alt 2: when original shares acquired at ex-right price, then sale value of right issue is credited to PROFIT AND LOSS A/C.
when original shares are acquired at cum-right means cost of right benefit includes under cost of investments.
so sale of right issue is to be credited to Investment A/c.
where as original shares are acquired at ex-right means cost of right benefit does not includes under cost of investments
so in this case sale value considered as income. then credited in income column
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