0.3Bombay Transport Ltd.purschsed on 1st April 2014 from Delhi motors

1.	0.3Bombay Transport Ltd.purschsed on 1st April 2014 from Delhi motors five truckscosting Rs.3,00,000 each on the hire purchase system. The payment was to be made asfollows:10% of cash price down;25% of cash price at the end of the four subsequent halfyearsThe payment due on 31st March 2015 could not be made and hence the trucks wereseized by the vendor,But, after negotiation ,the hire purchaser was allowed to keep three trucks on thecondition that the value of the other two trucks would be adjusted against the amountdue, the trucks being valued at cost less 25%depreciation Bombay TranspostLtd.closes its books on 31st March each year and the depreciation is charged at 15%per annum on the original cost The vendor spent Rs.60,000 on getting the truckrepaired and sold one of them for Rs.2,50,000.Prepare necessary ledger accounts inthe books of both the parties.
Answer» ANSWER: AAPKI keemat tab HOTI hai JAB Aapki zaroorat hoti hai

0.3Bombay Transport Ltd.purschsed on 1st April 2014 from Delhi motors five truckscosting Rs.3,00,000 each on the hire purchase system. The payment was to be made asfollows:10% of cash price down;25% of cash price at the end of the four subsequent halfyearsThe payment due on 31st March 2015 could not be made and hence the trucks wereseized by the vendor,But, after negotiation ,the hire purchaser was allowed to keep three trucks on thecondition that the value of the other two trucks would be adjusted against the amountdue, the trucks being valued at cost less 25%depreciation Bombay TranspostLtd.closes its books on 31st March each year and the depreciation is charged at 15%per annum on the original cost The vendor spent Rs.60,000 on getting the truckrepaired and sold one of them for Rs.2,50,000.Prepare necessary ledger accounts inthe books of both the parties.

Answer»

ANSWER:

AAPKI keemat tab HOTI hai

JAB Aapki zaroorat hoti hai

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