hire purchase accounting lecture

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Chapter 1
Lecture : 5

At the end of the lectures you will be able to:

Identify the hire purchase transactions.
Record the transaction in the journal of hire-purchaser and hire vendor.
Prepare necessary account for the ledger hire-purchaser and hire vendor.
Calculate cash price in a transaction of hire purchase with or without the annuity.
Solve the accounting problem of higher-purchase transactions in the books of accounts and maintained by 'Big Malls'.

Lecture 1: Hire Purchase -1

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In this lecture you will learn the meaning and concept of hire purchase, hire-purchaser, hire vendor, goods repossessed , hirer, cash purchase price, downpayment, hire puchase price, hire purchase charges and you will solve some problems based on these terms and different cases. Calculation of interest when rate of interest is given, you will solve the problems using balance sheets. Questions are provided to you. You can note the questions for your convinience. The solutions are provided to you in step by step manner. These steps are really important if you wish to score full marks.

Lecture 2: Hire Purchase -2

Lecture 3: Hire Purchase -3

Lecture 4: Hire Purchase -4

Lecture 5: Hire Purchase -5

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Published 02-Mar-2017 Bilingual

Hire Purchase is the most secured and effecting tool of collecting the proceeds of a credit sale. As now a days books are maintained in a double entry system by all big houses and multinationals. Sale is the key factor for the success of the business as profit of an organisation depends on its volume of sales. A big business house can effect sales on cash basis as well as on credit basis and that's how credit sale becomes the essential for growth of the system.
hire purchase accounting lecture
hire purchase accounting ipcc
hire purchase ipcc

Karan Arora

Phone:	98********38	Email:	kar********@gmail.com
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About Us

Mr. Karan Arora is an Accounting faculty in the Science Guru Academy. He also works as a guest teacher in New Holy Public School, Delhi. He successfully runs an institute by the name of Toppers Academy, Uttam Nagar with expertise in Accounting.