Mr R.M. is a hire purchase trader and sells goods on H.P. basis at Cost PLUS 50%. From the following information, prepare H.P. Trading Account to ascertain profit/loss for the year ending Mar 31, 2009.
|
Apr 1. 2008 |
Rs |
Mar 31. 2009 |
Rs |
|
Stock with customers (at H.P. Price) |
27,000 |
Stock at shop (excluding returned goods) |
6,00,000 |
|
Stock at shop (at cost) |
5,40,000 |
Installment due but not received |
2,70,000 |
|
Installment due (good) |
1,50,000 |
Stock with customers |
9,00,000 |
|
Goods Repossessed (worth Rs 60,000) |
15,000 |
[B.Com Delhi Modified] |
|
|
Cash received form customers |
18,00,000 |