Y Ltd. sells products on hire purchase terms, the price being cost plus 33 1/3%. From the
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Y Ltd. sells products on hire purchase terms, the price being cost plus 33 1/3%. From the following particulars for 2017, prepare Hire Purchase Stock Account, Shop Stock Account, Hire Purchase Debtors Account, Stock Reserve Account and Hire Purchase Adjustment Account (for profit) (all figures in ₹):
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Jan 1. Stock out on hire at H.P. price Stock in hand, at shop Instalments due (customers still paying) 1,20,000 Dec. 31 Stock out on hire at H.P. price Stock in hand at the shop 15,000 9,000 Instalments due (customers still paying) Cash received during the year 1,38,000 21,000 15,000 2,40,000
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Related Book For
Financial Accounting Volume II
ISBN: 9789387886230
4th Edition
Authors: Mohamed Hanif, Amitabha Mukherjee
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