Frontech Ltd., acquired machinery on hire purchase system. The ollows: of the machine was Rs. 3,00,000. on signing the agreement ce by annual instalments of Rs. 80,000 plus interest. hargeable on outstanding balance was 6% is to be written off at 12% on straight line method. tries in the books of Frontech Ltd, the books are closed on 31 De Rs. 1,20,000 p.a.

Frontech Ltd., acquired machinery on hire purchase system. The ollows: of the machine was Rs. 3,00,000. on signing the agreement ce by annual instalments of Rs. 80,000 plus interest. hargeable on outstanding balance was 6% is to be written off at 12% on straight line method. tries in the books of Frontech Ltd, the books are closed on 31 De Rs. 1,20,000 p.a.

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter12: Current Liabilities

Section: Chapter Questions

Problem 11EB: Whole Leaves wants to upgrade their equipment, and on January 24 the company takes out a loan from...

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