Hire Purchase Accounting
This query is : Resolved
04 February 2009
In Hire Purchase accounting, the vendor deals in both cash sales & Hp sales, such is the case in the books of vendor the stock reserve is to be created for the Hp closing stock (i.e)installments not yet due, for the stock reserve calculation the loading has to be ascertained.My question is the loading amount computed is to be whether (Hp price - Cash price) or (Hp price - Cost Price)?
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