ASSIGNMENT 2 11.11.

2012

All the student has to submit the answer before 2pm. You have to email me at
vine85@yahoo.com and snapshot the answer sent by whatapps

QUESTION 1

On 1 August 2013, job fast Berhad purchases a machine under hire-purchases

agreement with banker Berhad. The company paid deposit of RM1, 570 and further
installment of RM 850 per month for 5 months starting from 31 August 2013. The cash
price of the machine is RM 5,500.

HP PRICE = CASH DEPOSIT + INSTALMENT

= RM 1,750 + (RM 850X 5)

= RM 6,000

INTEREST = HP PRICE – CASH PRICE

= RM 6,000 –RM 5,500

= RM 500
QUESTION 2

On 1July 2013, job fast Berhad purchases a delivery van under hire–purchases
agreement with Banker Berhad. The Company paid deposit of RM 20,000 and further
installment of RM 5,200 per month for 6 months starting from 31 July 2013. The cash
price of the delivery van is RM 50,000.

HP PRICE = CASH DEPOSIT + INSTALMENT

= RM 20,000 + (RM 5,200X 6)

= RM 51,200

INTEREST = HP PRICE – CASH PRICE

= RM 51200 –RM 50,000

= RM 1200
QUESTION 3

En. Razi bought a radio on 1/4/2012 from Syarikat Abu Sdn Bhd. The cash price is
RM8, 000. Deposit RM2, 500 and the balance will be paid at the end of every month
with installment of RM600 for a year.

HP PRICE = CASH DEPOSIT + INSTALMENT

= RM 2500+ (RM 600 X 12)

= RM 9,700

INTEREST = HP PRICE – CASH PRICE

= RM 9,700 –RM 8,000

= RM 1,700
QUESTION 4

On 1 August 2016, En.Abu Berhad purchases a machine under hire-purchases

agreement with banker Berhad. The company paid deposit of RM, 2,500 and further
installment of RM 900 per month for 5 months starting from 31 August 2016. The cash
price of the machine is RM 6,500

HP PRICE = CASH DEPOSIT + INSTALMENT

= RM 2500+ (RM 900 X 5)

= RM 7,000

INTEREST = HP PRICE – CASH PRICE

= RM 7,000 –RM 6,500

= RM 500