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.

Aprl, 2008

Rs Mar 31, 2009

Rs

Stock with customers (at H.P. Price)

2,70,00 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