(1) Maket is a construction company, contracted to build a factory for El-Nasr Company in Tanta....

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(1) Maket is a construction company, contracted to build a factory for El-Nasr Company in Tanta. The contract price was L.E. 4,000,000. Construction covers a three-year period. El-Nasr Company accepted to bear 60% of any increasing in materials prices. 000 Boy a = Part Two: Tax Accountability of (C& PPS) The tax examination revealed the following information: a) The total estimated cost in the beginning of the first year is L.E. 3,000,000. b) The price of materials was increased in the beginning of the second year at L.E. 500,000. c) The cost incurred and sums received during the contract taxable period were as follows: Total actual cost until the end of the year L.E. The taxable period First Second Third The total 900,000 134 2800.00 3,600,000 Required: Determine the TGP for every year. Cash received L.E. 960,00 1,600,000 1,740,000 4,300,000 -135- Incre prices will to cu Incr | pric is c tom 50 in ter cu In pr n (1) Maket is a construction company, contracted to build a factory for El-Nasr Company in Tanta. The contract price was L.E. 4,000,000. Construction covers a three-year period. El-Nasr Company accepted to bear 60% of any increasing in materials prices. 000 Boy a = Part Two: Tax Accountability of (C& PPS) The tax examination revealed the following information: a) The total estimated cost in the beginning of the first year is L.E. 3,000,000. b) The price of materials was increased in the beginning of the second year at L.E. 500,000. c) The cost incurred and sums received during the contract taxable period were as follows: Total actual cost until the end of the year L.E. The taxable period First Second Third The total 900,000 134 2800.00 3,600,000 Required: Determine the TGP for every year. Cash received L.E. 960,00 1,600,000 1,740,000 4,300,000 -135- Incre prices will to cu Incr | pric is c tom 50 in ter cu In pr n

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