Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Accounting P. Ltd. has supplied the following information in respect of incomplete contract as on 31.3.99: Contract A Contract B Contract Price 2,40,000 1,50.000 Work

Accounting

image text in transcribed

P. Ltd. has supplied the following information in respect of incomplete contract as on 31.3.99: Contract A Contract B Contract Price 2,40,000 1,50.000 Work Certified 2,16,000 1,00,000 Estimated Cost of Completion of Contract 2,10,000 1,20,000 Cash Received 1,60,000 80,000 Uncertified Work 10,000 7,000 Cost of Contract (expenditure incurred upto 31.3.99) 1,80,000 95,000 Calculate the profit to be carried to Costing Profit & Loss A/c for the year ended on 31.3.99

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Economics In Minutes 200 Key Concepts Explained In An Instant

Authors: Niall Kishtainy

1st Edition

1782066470, 9781782066477

More Books

Students also viewed these Accounting questions

Question

Date the application was sent

Answered: 1 week ago

Question

5. Save raster im?

Answered: 1 week ago