Accounts
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
28 September 2015
On lsJanuary, 1993 Trucks were purchased by A on the hire-purchase system. The cash price of each truck is Rs. 55,000. The payment was to be made as follows.
10% of cash price Down.
25% of cash price at the end of each of the 4 subsequent half-years.
The payment due on 31st December, 1993 ould not be made and hence trucks were sized by vendor, but after negotiations, A was allowed to keep 3 trucks on the condition that the value of the other two trucks would be adjusted against the amount due, the truck being valued at cost less 25% depreciation. A��s books are closed on 30th June each year and he charges 15% depreciation on trucks on the original cost.
The vendor spent Rs. 6,000 on getting the trucks thoroughly overhauled and sold them for rs. 95,000. Show the various accounts in the bools of both the parties.
10% of cash price Down.
25% of cash price at the end of each of the 4 subsequent half-years.
The payment due on 31st December, 1993 ould not be made and hence trucks were sized by vendor, but after negotiations, A was allowed to keep 3 trucks on the condition that the value of the other two trucks would be adjusted against the amount due, the truck being valued at cost less 25% depreciation. A��s books are closed on 30th June each year and he charges 15% depreciation on trucks on the original cost.
The vendor spent Rs. 6,000 on getting the trucks thoroughly overhauled and sold them for rs. 95,000. Show the various accounts in the bools of both the parties.
28 September 2015
what is the query? Or you want ALL the entries.....no way.....please ask the query precisely... may be of any particular entry etc
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