Question

Raja purchased an asset under hire purchase system for ` 60,000 payments tobe made ` 15,000 down and three installments of ` 18,000 each at the end ofeach year. Rate of interest is 10% p.a. Raja depreciates asset @ 10% p.a. ondiminishing balance method.Due to financial difficulties Raja could not pay any installment after firstinstallment and selling company took possession of the asset. The sellingcompany after spending` 1,500 on repairs it sold away the asset for ` 38,000.Prepare necessary ledger accounts in the books of both the panties

Answer 1

Raja purchased an asset under hire purchase system for ` 60,000 payments tobe made ` 15,000 down and three installments of ` 18,000 each at the end ofeach year. Rate of interest is 10% p.a. Raja depreciates asset @ 10% p.a. ondiminishing balance method.Due to financial difficulties Raja could not pay any installment after firstinstallment and selling company took possession of the asset. The sellingcompany after spending` 1,500 on repairs it sold away the asset for ` 38,000.Prepare necessary ledger accounts in the books of both the panties

Answer 2

Explanation:

15,000 డౌన్ చేయడానికి 60,000 చెల్లింపు కోసం రాజా కొనుగోలు వ్యవస్థలో ఒక ఆస్తిని కొనుగోలు చేసింది మరియు ప్రతి సంవత్సరం వడ్డీ రేటు ముగింపులో 18,000 ప్రతి మూడు విడతలు 10% p. ఒక రాజా ఆస్తిని క్షీణింపజేస్తుంది p 10 పే