Selling managed fund

[DaveC49]

Chris

the transaction will appear as a multiple split in accounting terminology.

Asset:CheckingAccount                  Db  20000
Asset:ManagedFund                                          Cr 19845.08
Income:Gain                                                    Cr     154.92


This assumes  that you bought into the fund at 19845.08 and there have been
no other transactions or recording of unrealized gains since you purchased
it. The total of the debit entries has to equal the total of the credit
entries for any transaction.

In the language of the stock accounts as per selling shares example this
would translate to
                                              Share       Price          Buy              
Sell
Asset:CheckingAccount                                            20000.00
Asset:ManagedFund                    0             0                154.92
Asset:ManagedFund                    1         20000                              
20000.00
Income:Gain                                                                                   
154.92


The middle two splits of the transaction produce the same resulting balance
for the Asset:ManagedFund as the above.   The Buy entry for the checking
account is the Db in the accounting example and the Sell entries correspond
to the Cr entries in the accounting example.

David Cousens



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