prepare h p trading a c for the year ended mar 31 2009 at cost price 563280

Krishna Traders sell on H.P. terms consumable durables. Details of its activities during 2008–2009 are as shown below:

Particulars

TV

Washing Machine

AC

No. of Units sold

50

40

20

Cost per unit

Rs 10,000

Rs 12,000

Rs 18,000

Price per unit on delivery

Rs 2,500

Rs 4,000

Rs 6,000

Balance in

10 months

32 bi monthly

12 Quarterly

Installment of

Installment of Rs 500

Installments of

Rs 1,250 each

Each

Rs 2,200 each

No. of Installments received

490

800

55

Two washing machines on which only 6 installments in all and one air conditioner on which 3 installments were received, were repossessed as the customers defaulted in payment of subsequent installments. These were taken back at original cost less 30%.

Prepare H.P. Trading A/c for the year ended Mar 31, 2009 at Cost Price.

You are required to prepare

  1. Hire Purchase Trading Account
  2. General Trading Account

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