Question

Sale of invesments journal entry

Answer 1

sale of investments:when a company sells a investment,it results in gain or loss which is recognised in income statement
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Answer 2

Journal Entry

Explanation:

                           Books of (----limited)

                               Journal entry                                              

Date          Account Title and Explanation       Debit    Credit

            Bank                      A\c Dr.                        xxx

              To Investment    A\c                                             xxx

           (Being amount receive from sale of investment)

In the case of Loss:

           Profit and Loss     A\c Dr.                         xxx

             To Investment     A\c                                               xxx

In the case of Gain:

          Investment     A\c Dr.                                 xxx

               To Profit and Loss     A\c Dr.                                 xxx

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