on 03-19-2013 4:39 AM
We have purchased 10000 @ Rs. 10 per share. Now we have received 10000 bonus shares which have no face value. Please suggest how to account these bonus share in TR with no cost
Hi Rishi,
just a short and general comment - what is the meaning of shares having no value - then there is nothing to disclose in accounting as well.
Kind regards,
Renatas
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sorry for wrong question, our real scenario is as follows -
We received a bonus of 34,385,333.509 units from Mutual Fund scheme, for which we did not make any payment in cash and no monetary transaction was involved.
The cost price of the purchase has remained the same but the units have increased by the bonus received and therefore reducing the cost price of each unit. Now this transaction has to be accounted for in SAP. The capital gain is to be calculated on FIFO basis at revised reduced NAV.
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