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InterviewSolution
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Mr. Raman purchased a T.V. on Hire Purchase on the following Rs. 1,200 to be paid on signing the areamentRs. 1.700 at the end of the first yearRs. 1,600 at the end of the second yearRs. 5,500 at the end of third and last year,The hire vendors charged interest at 10% per annum on cash values ofMr. Raman wished to provide depreciation af 10% on the diminishingmethod.Write up the necessary ledger accounts in the books of both the parties(Madrus, B.ComDeAns: Total Cash PriesInterest: I year : Rs.700 II years Rs.600 Ill years |
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Answer» The hire VENDORS CHARGED interest at 10% PER annum on CASH VALUES ofMr. Raman wished to provide depreciation af 10% on the diminishingmethod. |
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