Strong Structure Limited was awarded a contract for construction of a flyover by the Government of Delhi
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Strong Structure Limited was awarded a contract for construction of a flyover by the Government of Delhi on 1st October 2014. The contact consideration was fixed at ₹280 crore. The flyover was competed on 31st December 2016 with the following details:
The company uses the percentage of completion method for recording revenue. The stage of completion of project is determined by the proportion that contracts costs incurred for work performed up to the balance sheet date bear to the estimated total contract costs. Show the revenue, cost and profit to be recorded from this contract.
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