Question

I tried calculating the total interest each year using the " Hire purchase system table format" but I wasn't getting answer?

question - A mini bus is purchased for Rs 160000 under hire purchase on 1/04/2011.the amount payable on entering the agreement is Rs 40000 and balance to be paid in 3 annual installments of Rs 50000 each at the end of the year. Depreciation is charged 10%pa on wriitten down value method.

Show ledger accounts in the books of purchaser under asset accrual method. ​

Answer 1

Answer:

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Answer 2

Explanation:

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