2,000 8,000 5,000 Prepare Contract Account from the following information : Materials issued 30,000 Stores issued Wages Paid 10,000 Loose Tools Tractor's Expenses : Other Direct Expenses Driver's Salary 4,000 Running Materials 6,000 10,000 It took 6 months to complete the contract. The machinery was returned at 12,000 after charging deprecia. tion @ 20%. Stores and Loose tools returned were 1,000 and 3,000 respectively. Tractor was valued at 40,000 and depreciation was to be charged at 20% p.a. Office overheads were 12%72% of works cost and the contract price was agreed at 1,00,000