Hi
when can I record an asset in my books as an asset under hire purchase?
3 Replies
satish
(teaching)
(2046 Points)
Replied 02 March 2018
when hire purchaser making an agreement to purchase an asset from hire vendor
satish
(teaching)
(2046 Points)
Replied 03 March 2018
possession of the asset will be transferred to hire purchaser as on the date of agreement, on same day we can recognise asset in the books of hire purchaser.
after paying last installment, ownership will be transferred.
after paying last installment, ownership will be transferred.
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