Omega Corporation sells computers on hire purchase basis at cost plus 25%. Terms of sales are Rs. 10,000 as down payment and 8 monthly installments of Rs. 5,000 for each computer. From the following compute Hire Purchase profit under Stock and Debtor Method for the year 2002.
As on 1st January, 2002 last installment on 30 computers was outstanding as these were not due up to the end of the previous year.
During 2002 the firm sold 240 computers. As on 31st December, 2002 the position of installments outstanding were as under:
Installments due but not collected:
2 installments on 2 computers and last installment on 6 computers.
Installments not yet due: 8 installments on 50 computers, 6 installments on 30 and last installment on 20 computers.
Two computers on which 6 installments were due and one installment not yet due on 31st December 2002 had to be repossessed .Repossessed stock is valued at 50% of cost. All other installments have been received .

I have tried to attempt the question but while making Hire purchase Adjustment account i am facing some problem.Can anyone please do the whole question for me, So that i can understand the treatment.

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I am offset printer, i am supplying packaging material ( cartons.boxes, labels) etc.
Most of my sale is aginst H Form, therfore my input/output tax difference becomes very high and i am not getting my tax refund after 3-4 years. Is there any way to purchase the raw material (paper/board) without tax because the sale would be against H form and purchase is against 5% vat in delhi.
Secondly i am exporting the printed boxes to Nepal, can i purchase paper/board against h form in this second case?