ABC Ltd sells goods on hire purchase basis, the price being cost plus 60%. From the following particulars relating to 2009 ascertain the profit or loss on hire purchase transactions.
|
Rs |
|
|
Installments due, customers paying on Jan 1, 2009 |
6,000 |
|
Installment not yet due |
75,000 |
|
Goods sold during the year on H.P. basis, cost |
1,80,000 |
|
Cash received from H.P. customers |
2,70,000 |
|
Installments due on Dec 31, 2009, customer paying |
9,000 |