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A firm purchased on 1st july 2002 a machinery from hindustan machine limited on hire purchase system the cash price is 40000 the hire purchaser agreed to pay 5 installments of rs 8000 each half yearly the interest agreed at 15 % per annum firm decided to charge 10% per annum depreciation on straight line method prepare journal account and ledgers account in the books assuming that books are closed on 31 dec every year?
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A firm purchased on 1st july 2002 a machinery from hindustan machine l...
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A firm purchased on 1st july 2002 a machinery from hindustan machine l...
Journal Account

Date | Particulars | Debit | Credit
--- | --- | --- | ---
1 Jul 2002 | Machinery A/c | 40,000 |
| Hire Purchase Creditor A/c | | 40,000
31 Dec 2002 | Interest A/c | 3,000 |
| Machinery A/c | | 3,000
31 Dec 2002 | Depreciation A/c | 4,000 |
| Machinery A/c | | 4,000
31 Dec 2002 | Hire Purchase Creditor A/c | 8,000 |
| Bank A/c | | 8,000
31 Dec 2003 | Interest A/c | 3,000 |
| Machinery A/c | | 3,000
31 Dec 2003 | Depreciation A/c | 4,000 |
| Machinery A/c | | 4,000
31 Dec 2003 | Hire Purchase Creditor A/c | 8,000 |
| Bank A/c | | 8,000
31 Dec 2004 | Interest A/c | 3,000 |
| Machinery A/c | | 3,000
31 Dec 2004 | Depreciation A/c | 4,000 |
| Machinery A/c | | 4,000
31 Dec 2004 | Hire Purchase Creditor A/c | 8,000 |
| Bank A/c | | 8,000
31 Dec 2005 | Interest A/c | 3,000 |
| Machinery A/c | | 3,000
31 Dec 2005 | Depreciation A/c | 4,000 |
| Machinery A/c | | 4,000
31 Dec 2005 | Hire Purchase Creditor A/c | 8,000 |
| Bank A/c | | 8,000
31 Dec 2006 | Interest A/c | 3,000 |
| Machinery A/c | | 3,000
31 Dec 2006 | Depreciation A/c | 4,000 |
| Machinery A/c | | 4,000
31 Dec 2006 | Hire Purchase Creditor A/c | 8,000 |
| Bank A/c | | 8,000
31 Dec 2007 | Interest A/c | 3,000 |
| Machinery A/c | | 3,000
31 Dec 2007 | Depreciation A/c | 4,000 |
| Machinery A/c | | 4,000
31 Dec 2007 | Hire Purchase Creditor A/c | 8,000 |
| Bank A/c | | 8,000

Ledger Accounts

Machinery A/c

Date | Particulars | Debit | Credit
--- | --- | --- | ---
1 Jul 2002 | To Hire Purchase Creditor A/c | 40,000 |
31 Dec 2002 | To Interest A/c | 3,000 |
31 Dec 2002 | To Depreciation A/c | 4,000 |
31 Dec 2003 | To Interest A/c | 3,000 |
31 Dec 2003 | To Depreciation A/c | 4,000 |
31 Dec 2004 | To Interest A/c | 3,000 |
31
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The mother of four daughters: Tanya, Kamya, Saumya and Ananya, had given them a certain sum of money to make purchases of their own choices. Each of them bought a certain number of items. When their mother questioned them on the quantity of purchases made by them, their replies were as follows:1. The sum of all items put together that we have purchased is less than 18.2. The product of the number of items purchased by us is same as the amount you had given to us.3. Further Tanya had purchased the least quantity followed by Kamya, Saumya and Ananya in that order.The mother thought for a while on the quantity purchased by her daughters, but could not get the solution. She then asked her daughters whether any one of them had purchased only a single quantity to which the daughters replied and then the mother knew the number of items purchased by each one of them.Q.The amount in Rs. given to these daughters by their mother was.... Correct answer is '5'. Can you explain this answer?

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A firm purchased on 1st july 2002 a machinery from hindustan machine limited on hire purchase system the cash price is 40000 the hire purchaser agreed to pay 5 installments of rs 8000 each half yearly the interest agreed at 15 % per annum firm decided to charge 10% per annum depreciation on straight line method prepare journal account and ledgers account in the books assuming that books are closed on 31 dec every year?
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A firm purchased on 1st july 2002 a machinery from hindustan machine limited on hire purchase system the cash price is 40000 the hire purchaser agreed to pay 5 installments of rs 8000 each half yearly the interest agreed at 15 % per annum firm decided to charge 10% per annum depreciation on straight line method prepare journal account and ledgers account in the books assuming that books are closed on 31 dec every year? for CAT 2024 is part of CAT preparation. The Question and answers have been prepared according to the CAT exam syllabus. Information about A firm purchased on 1st july 2002 a machinery from hindustan machine limited on hire purchase system the cash price is 40000 the hire purchaser agreed to pay 5 installments of rs 8000 each half yearly the interest agreed at 15 % per annum firm decided to charge 10% per annum depreciation on straight line method prepare journal account and ledgers account in the books assuming that books are closed on 31 dec every year? covers all topics & solutions for CAT 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A firm purchased on 1st july 2002 a machinery from hindustan machine limited on hire purchase system the cash price is 40000 the hire purchaser agreed to pay 5 installments of rs 8000 each half yearly the interest agreed at 15 % per annum firm decided to charge 10% per annum depreciation on straight line method prepare journal account and ledgers account in the books assuming that books are closed on 31 dec every year?.
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