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- Goods belong to seller until last instalment is paid
- Buyer is tempted to buy more than he can afford
- Expensive way of buying goods/H.P price is normally higher than cash price
- Only a few (limited) types of goods are bought on hire purchase
- Goods may be repossessed if buyer defaults payment of instalments
Kavungya answered the question on April 1, 2019 at 08:26
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Ayub's capital at the beginning of the trading period was sh.300000. During the year he invested additional capital of sh.26000 in form of cash. He also took sh.40000 in cash and stock valued at sh.25000 from the business for his personal use
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The following information refers to tea traders for the year ended 31/12/04
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Expenses 10,000
Commission received 15,000
Purchases 700,000
Opening stock 250,000
Margin 20%
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Balance sheet as at 31st December 2000
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Bambu Traders
Balance sheet as at 31st December 2000
a) Sales during the year amounted to Kshs 2,000,000
b) Stock on 1 January 2000 was Kshs. 100,000
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ii) Gross profit mark up
iii) Rate of stock turnover
Date posted: March 27, 2019. Answers (1)
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Salaries 57,000
Prepare a profit and loss for the year ended 31st March 2001
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Date posted: March 27, 2019. Answers (1)