M.S. Ltd has a hire purchase department. Goods are sold on hire purchase at a profit of 25% on sale price. From the following particulars prepare H.P. Trading Account for the year upto Mar 31, 2009:
|
Apr 1, 2008 Rs |
Mar 3, 2009 Rs |
|
|
Stock in the shop |
30,000 |
42,000 |
|
Installment Due |
18,000 |
? |
|
Stock with customers at H.P. Price |
2,40,000 |
1,86,000 |
During the year goods sold on H.P. Price Rs 5,28,000, Purchase Rs 4,08,000; Cash received Rs 4,80,000