The following is the summarised information relating to contract accounts number 100: Included in the above information
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The following is the summarised information relating to contract accounts number 100:
Included in the above information are wages Rs. 3,500, materials Rs. 4,000 and other expenses Rs. 2,500 which were incurred since certification. Depreciate plant at 10%. Prepare contract A/c.
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Contract price Wages General expenses Materials Cash received (80% of certified work) Materials at site Plant Rs. 6,00,000 1,64,000 8,600 1,20,000 2,40,000 10,000 20,000
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