the following are the particulars from the books of amar amp co who sells goods of s 608193
The following are the particulars from the Books of Amar & Co who sells goods of small value on hire purchase basis at 50% profit on cost. Prepare Hire-Purchase Trading Account for the year ending on Dec 31, 2009.
|
Jan 1, 2009 Rs |
Dec 31, 2009 Rs |
|
|
Stock with the customers |
54,000 |
? |
|
Stock in the shop |
1,08,000 |
1,23,000 |
|
Installment Due |
30,000 |
54,000 |
Goods repossessed (Installments Due Rs 16,000) valued at Rs 3,000 which had been included in the stock at the end at Rs 3,000. Cash received from customers Rs 3,60,000 Purchases Rs 3,60,000.