HP Liability
System
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Please can someone help with a HP issue....I am incredibly stuck and have been looking at this for ages and I must have missed something
A company purchases a van for £8000+1400 VAT = £9400
The company then sells the van onto a HP lender, the invoice being
VAN £8000
VAT £1400
TOTAL £9400
less deposit -1400
BALANCE £8000
So the company owe money to the HP company for the van.
SO why is the HP liability only £8000, yet the van is in the asset register at £9400?
Please help!!
A company purchases a van for £8000+1400 VAT = £9400
The company then sells the van onto a HP lender, the invoice being
VAN £8000
VAT £1400
TOTAL £9400
less deposit -1400
BALANCE £8000
So the company owe money to the HP company for the van.
SO why is the HP liability only £8000, yet the van is in the asset register at £9400?
Please help!!
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Comments
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Re:HP Liability
Answered on the other forum.
Regards
Steve0