Dear Sir
we have purchased some share from stock Market and same has been sale and also paid some expenses please suggest below entry in books of account is correct or need to change. equity is not a main business we are suppliers of agriculture products.
entry in books of account
During purchase stock.
Investment in stock Dr.( Investment)
State Bank Cr.
Expenses Paid entry.
Brokage Dr.( Capital account)
Stamp duty Dr.( Capital account)
service tax Dr.( Capital account)
STT Dr.( Capital account)
Broker Cr.( Sundry creditors)
During sale and profit entry
State Bank Dr.
investment in stock Cr.
STCG Cr.( Capital account)
CAclubindia
