prepare the hire purchase trading account the profit earned for 2008 563275

Renu sells goods on hire purchase basis at a profit of 50% on Cost. Following particulars are relating to the business during the year 2008

Rs

Hire Purchase Stock at (selling price) as Jan 1, 2008

18,000

Installments Due on Jan 1, 2008

10,000

Goods sold on H.P. during the year (at selling price)

1,74,000

Cash received from H.P. Customers during the year

1,20,000

Goods repossessed (installments due Rs 4,000) as valued

1,000

Hire purchase stock (at selling price) as on Dec 31, 208

60,000

Installments Due on Dec 31, 2008

18,000

Prepare the Hire Purchase Trading Account, the Profit earned for 2008

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