On 1st April, 2008, Bihar Collieries obtained a machine on the hire purchase system, the total amount payable being Rs 2,50,000. Payment was to be made Rs 50,000 down and the balance in four annual instalments of Rs 50,000 each. Interest charged was at the rate of 15 per cent. At what value should the machine … Visa mer G acquired a plant delivered on April 1, 2010 on the following terms: (i) Initial payment of Rs 40,000 immediately; and (ii) 4 half-yearly instalments of Rs 30,000 each … Visa mer Delhi Tourist Service Ltd. purchased from Maruti Udvog Ltd. a motor van on 1st April 2009 the cash price being Rs 1,64,000. The purchase was on hire purchase … Visa mer On 1st April, 2008, Ashok acquired machinery on hire purchase system from Modmac Ltd., agreeing to pay four annual instalments of Rs 60,000 each payable at the … Visa mer Kareem Restaurant purchased from E.C. Ltd. a colour T.V. set on 1st October 2010 on the hire-purchase system. The cash price of the set was Rs 15,000. Terms of … Visa mer WebbHire-Purchase and Instalment Purchase Systems Question (When cash price, rate of interest and instruction of payment are given) Ram purchased a machine on hire …
1 Hire Purchase - However, the ownership of the goods remains
Webb20 apr. 2024 · Disadvantages of Hire Purchase System are: Total amount paid towards the asset in case of hire purchase system is higher than the cash price of assets. Ownership … Webb15 jan. 2024 · hire purchase system: it is a special system of purchase and sale .when goods are purchased on hire-purchase system, hire purchase and installment system … songs by mother\u0027s finest
Accounting for Hire Purchase - Example - Accountinguide
Webbagainst these two systems of purchases, in the case of hire purchase, the purchaser gets only the possession of the goods, but not the legal ownership of the goods, immediately … WebbHere is the video about How to calculate Interest on Hire Purchase system, In this video we have discussed basics concepts of Hire purchase system in accounting along with … songs by molchat doma