Answer / guest

Hire Purchase - You pay the value of the product in
instalments with out the title of the product.

Instalments - You pay the value of the product in
instalments and you also have the title of the same.

Answer / sharad garg

While in Hire Purchase system, the title before you pay the
last installment, remains with the Hirer (i.e. one who
gives something on HPS). Installments paid are considered
as payment towards the usage of the article hired, until
the last installments. If you default in paying even the
last installment, the hirer can take away the article,
without having to repay any installment or part thereof to
the hiree. Only afer the payment of the last instalment,
the ownership (title) to goods pass on to the hiree.

In case of Installment option, the title to goods is
considered to have passed to the hiree on the payment of
the first installment only. Every installment is considered
to be the payment towards the value of the goods and not
for the usage alone. In case of default seller can enforce
the hiree to sell the product and make good the remaining
installment. But the hirer cannot claim a good title to the
goods.

Answer / rahmat unnisa

hire pur:the ownership is not transfered
installment pur:ownership is transferd

Answer / gayathri .n

In hire purchase system we have the right to seize the product say two heeler if the installent is not paid ;
while in installment system we dont have the right to seize but we can file a case in the to pay the installment.

Short Answer on _________Accounting

1 Answers  

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Liabilities: 2006 2007 Assets 2006 2007 Trade Creditiors 100 40 Cash atBank 100 65 Bills Payable 50 60 Account/R 105 120 Outstanding Expenses 25 20 B/R 130 140 Bonds Payable 220 140 Inventory 110 40 Accumulated Depreciation: Machinery 120 160 -on Machinery 30 35 Building 300 310 -On Building 75 85 Land 60 130 Reserves 100 115 Patents 55 60 Retained Earning 130 170 share Capital 250 360 Profit from operation after providing Rs.10,000as depreciation on building and Rs.10,000 on machinery and Rs.5,000 as amortization on patents for the year 'April 06- March07' was Rs.35,000. Other revenues for the year were Rs.40,000. An old machine with original cost of Rs.15,000 was sold at a loss of rs.5,000. Prepare Fund Flow Statment and Cash Flow Statment for the year ending March 31 2007 based on the information given above.

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