The following information relates to a building contract for Rs. 10,00,000. The value of plant at the

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The following information relates to a building contract for Rs. 10,00,000. 

The value of plant at the end of 2001 and 2002 was Rs. 7,000 and Rs. 5,000 respectively. Prepare: 

(i). The contract account,

(ii). Contractee account for two years 2001 and 2002 taking into consideration such profit for transfer to the profit and loss account as you think proper.

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Related Book For  answer-question

Cost Accounting

ISBN: 9780070221628

4th Edition

Authors: Jawahar Lal, Seema Srivastava

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