33 ka first question

d 11:56 K +91 99900 14440 5 April, 23:13 Vo) 4G LTE1 +1 (m) State (iv) Process 'A' account. SECTION B 15 Q. 3. The following is the trial balance of Premier Construction Company engaged on the execution of Contract no. 747 for the year ended 31st December 2012: Dr. [Amount ] Cr. [Amount ()] Contractee's account (amount received) Building Creditors Bank balance Capital account bop. Materials Wages Expenses Plant Jostog 3,00,000 1,60,000 72,000 35,000 5,00,000 2,00,000 1,80,000 47,000 2,50,000 oldaliava o elintob vadin The work on Contract no. 747 was commenced on 1st January 2012. Materials costing 1,70,000 were sent to the site of the contract but those of *6,000 were destroyed in an accident. Wages of 1,80,000 were paid during the year. Plant costing 50,000 was used to the contract all through the year. Plant with a cost of *2,00,000 was used from 1st January to 30th September and was then returned to the stores. Materials of the cost of 4,000 were at site on 31st December 2012. The contract was for 6,00,000 and the contractee pays 75% of the work certified. Work certified was 80% of the total contract work at the end of the 2012. Uncertified work was estimated at 15,000 on 31st December 2012. Expenses are charged to contract at 25% of wages. Plant is to be depreciated at 10% p.a. Prepare Contract no. 747 account for the year 2012 and Balance Sheet as on 31st December 2012 in the books of Premier Construction Company. Or 15 (a) AB Enterprises undertake different jobs which require the use of a special machine and also the use of a computer. The computer is hired and the hire charges work out to 4,20,000 p.a. The expenses regarding the machine are estimated as follows: Rent for quarter Depreciation p.a. Indirect charges p.a. Amount () 17,500 2,00,000 1,50,000 During the first month of operations, the following details were taken from the job register: