Dear Pals,
Is forward contract in any ways related to clearing and forwarding business?
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Replies (7)
Forward Contract is not at all related to clearing & forwarding contract.
Forward Contract takes place in case of purchase & sale of Shares & foreign currency.
Mr. Dinesh is absolutely right. Forward contracts are made for sale/purchase anything i.e. shares, commodities, currency and interest rates ans so on on some future date at predetermined price. But these contracts are not conducted on any organised exchanges.
Thankyou pals for giving me a clear cut idea about the forward contract.
Hello jad bushan sharma sir,
i have attached a problm reg accounts pls find me a solution for that problem.
There is no attachment with your message. Pl. recheck and send the attachment.
they are like cheese and chalk.....
Pornimaji, find Solution to your question.
Capital A/c s of M/s Ram Rahim as on 31-12-2008
(Amt. in Rupees)
Particulars Suresh Ram Rahim Suresh Ram Rahim
|
To Motor Vehicle A/c
|
|
12000
|
|
By Bal. b/f
|
|
54300
|
48000
|
|
To Goodwill A/c
|
6667
|
|
13666
|
By Goodwill A/c
|
|
2500
|
2500
|
|
To Suresh Capital A/c
|
|
31477
|
|
By Revaluation A/c
|
|
4140
|
4140
|
|
To Cash A/c
|
|
24130
|
|
By Cash A/c
|
|
|
14980
|
|
To Balance c/f
|
24810
|
|
41307
|
By Ram A/c
|
31477
|
|
|
|
Total
|
31477
|
60940
|
54640
|
Total
|
31477
|
60940
|
54640
|
Balance Sheet of M/s Rahim and Suresh as on 31-12-2008
(Amt. in Rupees)
Particulars Amount Particulars Amount
|
Sundry Creditors A/c 14700
|
Land and Building A/c 48330
|
|
Rahim’s Capital A/c 49620
|
Furniture A/c 9300
|
|
Sursh’s Capital A/c 24810
|
Sundry Debtors 24150
|
|
|
Cash A/c 7350
|
|
Total 89130
|
Total 89130
|
Working Notes:
- Capital of the firm at the time of retirement of Ram is Rs.103580 (Rs.48940 of Ram and Rs.54640 of Rahim).
- Since the new partners Rahim and Suresh do not want to show goodwill in books, the capital of the new firm will reduce by Rs.20000/-
- They want to keep Rs.7350 with them, this means that they want to utilize Rs9150 (16500-7350) towards making payment to Ram, hence want to reduce the capital of new firm by another Rs.9150. So the capital of new firm will be Rs.74430 (103580-20000-9150) shared by Rahim and Suresh in the ratio 3:1 (49620 and 24810).
- Ram will gift Suresh Rs.24810 for capital and Rs.6667 for goodwill.
-
Capital A/c s of M/s Ram Rahim as on 31-12-2008
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