The following information relates to a contract for Rs 7,50,000 (the contractee paying 90% of the value of work done and certified by the Architect and rest on completion of the contract) of Murugan Construction Company.

1996 Rs 1997 Rs 1998 Rs Materials 90,000 1,10,000 63,000 Wages 85,000 1,15,000 85,000 Direct expenses 3,500 12,500 4,500 Indirect expenses 1,500 2,000 –

Work certified 1,75,000 5,65,000 7,50,000 Work uncertified – 10,000 –

Plant 10,000 – –

The value of plant at the end of 1996, 1997 and 1998 was Rs 8,000, Rs 5,000 and Rs 2,000 respectively.

Prepare contract account for the three years in the books of Murugan Construction Company.