HP Accounts Sums 1to 6.pdf

Module 2- Accounting for Hire Purchase Journalise the transactions for all the years in the books of Buyer A Journalise the transactions for all the years in the books of Buyer A and Seller B You are required to prepare ledger accounts in the books of buyer You are required to prepare le...

Module 2- Accounting for Hire Purchase Journalise the transactions for all the years in the books of Buyer A Journalise the transactions for all the years in the books of Buyer A and Seller B You are required to prepare ledger accounts in the books of buyer You are required to prepare ledger accounts in the books of buyer and seller 5. Cash price of P&M 200,000 DOP 1/4/2019 Down payment 100,000 Bal in 2 equal annual instalments with interest at 15% p.a from 31/3/2020 Buyer P Depreciation at 10% p.a. on WDV Seller Q Accounts closed on 31st March AFM SEM 1 Page 1 Buyer P Depreciation at 10% p.a. on WDV Seller Q Accounts closed on 31st March You are required to prepare ledger accounts in the books of buyer and seller 6. Cash price of P&M 300,000 DOP 1/4/2019 Down payment 30,000 Bal in 3 equal annual instalments with interest at 15% p.a from 31/3/2020 Each instalment is Rs.118,254 including interest. Buyer P Depreciation at 10% p.a. on WDV Seller Q Accounts closed on 31st March You are required to prepare ledger accounts in the books of buyer and seller AFM SEM 1 Page 2