tally ltd carry out construction contracts. The projects are completed over time. The company has three contracts in progress at the year end 30 aprial 2021

Alpha Beta gamma

000 000 000

cost incurred to date 640 1080 40

cost of complete 80 180 440

contract price 832 1200 600

work certified to date 624 912 0

progress payment received 500 960 0

tilly accrues profit on its construction contracts using the percentage of completion derived from the sales earned as work certified compared to the total contract price(output menthod)

required:

calculate the effects of the above contracts upon the financial statement at year end 30 april 2021.

Please with working otherwise i would not understand subject is internation corporate reporting.