Question
ABC Company engaged in a subcontract with Padma Bridge amounting to Tk.50, 00,000. First-year ABC used Tk.20, 00,000, second-year 5,00,000 and third year 10,00,000. Work
ABC Company engaged in a subcontract with Padma Bridge amounting to Tk.50, 00,000. First-year ABC used Tk.20, 00,000, second-year 5,00,000 and third year 10,00,000. Work certified was 45 % , 65 %, and 85% respectively received bill accordingly after the provision of 10% cash retention. Calculate how much ABC transfers profit to P&L account the first, 2nd, and 3rd year?
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Year 1 Total work certified amount Tk5000000 45 Tk2250000 Bill amount Total work certified amoun...
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Advanced Accounting
Authors: Gail Fayerman
1st Canadian Edition
9781118774113, 1118774116, 111803791X, 978-1118037911
