INSTALLMENT SALES (B.Com Part - II) Lecture # 1:
Installment sales ka matlab hai k company apni merchandise cash ya udhar pe sale karne k bajaye installments (qiston) pe sale karti hai. Bohat si examples apki daily life mein mojod hein like motor bikes, electronic items, flats, etc. yeh sab installments pe sale kiye jate hein. Jab company installment pe merchandise sale karti hai to paise usi waqt nahi milte balke qiston pe milte hein. Merchandise ki total sales value mein se company kuch amount usi waqt customer se le leti hai jis ko down payment kaha jata hai aur baqi jo amount reh jata hai wo qiston pe receive karti hai usay installments kaha jata hai.
For example:
Sales Rs.50,000.
Down payment received Rs.10,000
Remaining amount Rs.40,000 to be collected in 4 monthly installments of Rs.10,000 each.
(1) INSTALLMENT SALES:
Installment pe jitne ki merchandise sale karte hein us selling amount ko installment sales kehte hein.
For example:
Merchandise sold on installment basis Rs.100,000.
Formula:
Installment sales = Units sold x Selling price per unit
(2) COST OF INSTALLMENT SALES:
Installment pe jo merchandise sale karte hein uski original cost ko cost of installment sales kehte hein.
For example:
Installment sales Rs.100,000.
Cost of installment sales Rs.80,000.
It means k jo merchandise Rs.100,000 mein sale ki hai uski original cost Rs.80,000 hai.
Formula:
Cost of installment sales = Merchandise inventory beginning + Net purchases - Merchandise inventory ending
(3) UNREALIZED GROSS PROFIT/DEFERRED GROSS PROFIT (DGP):
Deferred gross profit se murad wo profit jo company ne abhi tak receive nahi kiya. Installment pe jab sale karte hein to cash usi waqt nahi milta. Jab cash nahi mila to sale mein mojod profit bhi nahi mila. Jo profit nahi mila usay unrealized gross profit ya deferred gross profit kehte hein.
For example:
Installment sales Rs.100,000.
Cost of installment sales Rs.80,000.
Deferred gross profit Rs.20,000.
It means k jo merchandise Rs.100,000 mein sale ki hai uski original cost Rs.80,000 hai which means k Rs.20,000 ka profit hua hai jo abhi nahi mila isliye is profit ko unrealized ya deferred gross profit kaha gaya.
Formual:
Deferred gross profit = Installment sales - Cost of installment sales
(4) DEFERRED GROSS PROFIT RATE (DGP%):
Installment pe jo merchandise sale ki us par jo profit hua hai uski percentage ko deferred gross profit rate kehte hein. Yani merchandise sale karne mein kitne percent profit hua hai isko deferred gross profit rate kehte hein.
For example:
Installment sales Rs.100,000.
Deferred gross profit Rs.20,000.
Deferred gross profit rate = 20%
It means k jo merchandise sale ki us par 20% profit hai.
Formula:
Deferred gross profit rate = Deferred gross profit/Installment sales x 100
(5) CASH COLLECTION:
Installment pe sale se puray period mein jitna bhi cash customer se receive hua chahe wo down payment ki surat mein receive hua ho ya installments ki surat mein, un sab ko total cash collection kehte hein.
For example:
Installment sales Rs.100,000.
Installment accounts receivable ending Rs.80,000.
It means k Rs.100,000 ki sale ki thi is mein se period k end mein Rs.80,000 abhi bhi customer pe due hein baqi Rs.20,000 collcet ho gaye customer se.
Formula:
Cash collection = Installment sales - Installment accounts receivable ending
For example:
Installment accounts receivable beginning Rs.80,000.
Installment accounts receivable ending Rs.30,000.
It means k period k start mein customer se Rs.80,000 lene thay lekin period k end pe Rs.30,000 customer pe due hein baqi paise customer ne pay kar diye Rs.50,000.
Formula:
Cash collection = Installment accounts receivable beginning - Installment accounts receivable ending - Installment accounts receivable cancelled
For example:
Down payment received Rs.20,000.
Installments received Rs.10,000.
It means total cash collection Rs.30,000 hui hai customer se.
Formula:
Cash collection = Down payment received + Installments received
* Cash collection ka formula depend karta hai question mein mojod data par. Jis tarah ka data hoga usi tarah ka formula apply karen ge.
(6) REALIZED GROSS PROFIT (RGP):
Realized gross profit se murad wo profit jo company ne receive kar liya. Yani is ka talluq cash collection se. Jitna cash collect hoga us mein kuch percentage profit hoga.
For example:
Cash collection Rs.50,000.
Profit percentage 20%.
Realized gross profit Rs.10,000.
It means k company ne is period mein Rs.50,000 cash collect kiya. Company ka profit percentage 20% hai yani har amount pe 20% company ka profit hai. Rs.50,000 mein 20% profit yani Rs.10,000 company ka wo profit hai jo company ne is period mein receive kar liya. Jo profit receive kar liya usko realized gross profit kehte hein.
Formula:
Realized gross profit = Cash collection x Deferred gross profit rate
(7) GAIN OR LOSS ON REPOSSESSION:
Jab company merchandise sale karti hai insatllments pe aur koi customer installments pay nahi kar pata to company apni merchandise wapas lekar aajati hai customer se. Isko repossession kehte hein. Now suppose k ap ne ek chez Rs.100 ki purchase ki aur kisi ko udhar pe sale kar di Rs.120 pe. ab agar apko wo shakhs payment na kare to apko Rs.120 ka nahi balke Rs.100 ka loss hoga kyun k Rs.20 to wo profit hai jo apko mila hi nahi. Iska matlab yeh hua k agar mujhe apna loss calculate karna hai to sales mein se pehle profit nikalna pare ga. Jitne paise customer pe due hein usay installment accounts receivable cancelled kehte hein.
For example:
Installment accounts receivable cancelled Rs.10,000.
Deferred gross profit Rs.2,000.
Book value Rs.8,000.
Merchandise repossessed Rs.7,000.
Loss on repossession Rs.1,000.
It means k customer pe Rs.10,000 due thay. Is Rs.10,000 mein Rs.2,000 company ka profit tha jo company ne alag kar diya to baqi value Rs.8,000 reh gai which means k agar customer se paise aur merchandise na mile to Rs.8,000 ka loss hoga. Lekin merchandise mil gai customer se aur us merchandise ki market mein Rs.7,000 value mil rahi hai. Company ko Rs.8,000 ka loss honay wala tha lekin Rs.7,000 market se mil jayen ge iska matlab hai Rs.1,000 ka loss hoga aur agar company ko Rs.8,000 se zyada paise market se mil jayen to company ko gain hoga.
Formula:
Gain or loss on repossession = Installment accounts receivable cancelled - Deferred gross profit fore go - Merchandise repossessed
(Respected members: I am sorry k mein zyada detail mein nahi explain kar saka kyun k mobile se use karne walon k pas open nahi hoga)
Installment sales ka matlab hai k company apni merchandise cash ya udhar pe sale karne k bajaye installments (qiston) pe sale karti hai. Bohat si examples apki daily life mein mojod hein like motor bikes, electronic items, flats, etc. yeh sab installments pe sale kiye jate hein. Jab company installment pe merchandise sale karti hai to paise usi waqt nahi milte balke qiston pe milte hein. Merchandise ki total sales value mein se company kuch amount usi waqt customer se le leti hai jis ko down payment kaha jata hai aur baqi jo amount reh jata hai wo qiston pe receive karti hai usay installments kaha jata hai.
For example:
Sales Rs.50,000.
Down payment received Rs.10,000
Remaining amount Rs.40,000 to be collected in 4 monthly installments of Rs.10,000 each.
(1) INSTALLMENT SALES:
Installment pe jitne ki merchandise sale karte hein us selling amount ko installment sales kehte hein.
For example:
Merchandise sold on installment basis Rs.100,000.
Formula:
Installment sales = Units sold x Selling price per unit
(2) COST OF INSTALLMENT SALES:
Installment pe jo merchandise sale karte hein uski original cost ko cost of installment sales kehte hein.
For example:
Installment sales Rs.100,000.
Cost of installment sales Rs.80,000.
It means k jo merchandise Rs.100,000 mein sale ki hai uski original cost Rs.80,000 hai.
Formula:
Cost of installment sales = Merchandise inventory beginning + Net purchases - Merchandise inventory ending
(3) UNREALIZED GROSS PROFIT/DEFERRED GROSS PROFIT (DGP):
Deferred gross profit se murad wo profit jo company ne abhi tak receive nahi kiya. Installment pe jab sale karte hein to cash usi waqt nahi milta. Jab cash nahi mila to sale mein mojod profit bhi nahi mila. Jo profit nahi mila usay unrealized gross profit ya deferred gross profit kehte hein.
For example:
Installment sales Rs.100,000.
Cost of installment sales Rs.80,000.
Deferred gross profit Rs.20,000.
It means k jo merchandise Rs.100,000 mein sale ki hai uski original cost Rs.80,000 hai which means k Rs.20,000 ka profit hua hai jo abhi nahi mila isliye is profit ko unrealized ya deferred gross profit kaha gaya.
Formual:
Deferred gross profit = Installment sales - Cost of installment sales
(4) DEFERRED GROSS PROFIT RATE (DGP%):
Installment pe jo merchandise sale ki us par jo profit hua hai uski percentage ko deferred gross profit rate kehte hein. Yani merchandise sale karne mein kitne percent profit hua hai isko deferred gross profit rate kehte hein.
For example:
Installment sales Rs.100,000.
Deferred gross profit Rs.20,000.
Deferred gross profit rate = 20%
It means k jo merchandise sale ki us par 20% profit hai.
Formula:
Deferred gross profit rate = Deferred gross profit/Installment sales x 100
(5) CASH COLLECTION:
Installment pe sale se puray period mein jitna bhi cash customer se receive hua chahe wo down payment ki surat mein receive hua ho ya installments ki surat mein, un sab ko total cash collection kehte hein.
For example:
Installment sales Rs.100,000.
Installment accounts receivable ending Rs.80,000.
It means k Rs.100,000 ki sale ki thi is mein se period k end mein Rs.80,000 abhi bhi customer pe due hein baqi Rs.20,000 collcet ho gaye customer se.
Formula:
Cash collection = Installment sales - Installment accounts receivable ending
For example:
Installment accounts receivable beginning Rs.80,000.
Installment accounts receivable ending Rs.30,000.
It means k period k start mein customer se Rs.80,000 lene thay lekin period k end pe Rs.30,000 customer pe due hein baqi paise customer ne pay kar diye Rs.50,000.
Formula:
Cash collection = Installment accounts receivable beginning - Installment accounts receivable ending - Installment accounts receivable cancelled
For example:
Down payment received Rs.20,000.
Installments received Rs.10,000.
It means total cash collection Rs.30,000 hui hai customer se.
Formula:
Cash collection = Down payment received + Installments received
* Cash collection ka formula depend karta hai question mein mojod data par. Jis tarah ka data hoga usi tarah ka formula apply karen ge.
(6) REALIZED GROSS PROFIT (RGP):
Realized gross profit se murad wo profit jo company ne receive kar liya. Yani is ka talluq cash collection se. Jitna cash collect hoga us mein kuch percentage profit hoga.
For example:
Cash collection Rs.50,000.
Profit percentage 20%.
Realized gross profit Rs.10,000.
It means k company ne is period mein Rs.50,000 cash collect kiya. Company ka profit percentage 20% hai yani har amount pe 20% company ka profit hai. Rs.50,000 mein 20% profit yani Rs.10,000 company ka wo profit hai jo company ne is period mein receive kar liya. Jo profit receive kar liya usko realized gross profit kehte hein.
Formula:
Realized gross profit = Cash collection x Deferred gross profit rate
(7) GAIN OR LOSS ON REPOSSESSION:
Jab company merchandise sale karti hai insatllments pe aur koi customer installments pay nahi kar pata to company apni merchandise wapas lekar aajati hai customer se. Isko repossession kehte hein. Now suppose k ap ne ek chez Rs.100 ki purchase ki aur kisi ko udhar pe sale kar di Rs.120 pe. ab agar apko wo shakhs payment na kare to apko Rs.120 ka nahi balke Rs.100 ka loss hoga kyun k Rs.20 to wo profit hai jo apko mila hi nahi. Iska matlab yeh hua k agar mujhe apna loss calculate karna hai to sales mein se pehle profit nikalna pare ga. Jitne paise customer pe due hein usay installment accounts receivable cancelled kehte hein.
For example:
Installment accounts receivable cancelled Rs.10,000.
Deferred gross profit Rs.2,000.
Book value Rs.8,000.
Merchandise repossessed Rs.7,000.
Loss on repossession Rs.1,000.
It means k customer pe Rs.10,000 due thay. Is Rs.10,000 mein Rs.2,000 company ka profit tha jo company ne alag kar diya to baqi value Rs.8,000 reh gai which means k agar customer se paise aur merchandise na mile to Rs.8,000 ka loss hoga. Lekin merchandise mil gai customer se aur us merchandise ki market mein Rs.7,000 value mil rahi hai. Company ko Rs.8,000 ka loss honay wala tha lekin Rs.7,000 market se mil jayen ge iska matlab hai Rs.1,000 ka loss hoga aur agar company ko Rs.8,000 se zyada paise market se mil jayen to company ko gain hoga.
Formula:
Gain or loss on repossession = Installment accounts receivable cancelled - Deferred gross profit fore go - Merchandise repossessed
(Respected members: I am sorry k mein zyada detail mein nahi explain kar saka kyun k mobile se use karne walon k pas open nahi hoga)
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