contractor started a work from 1st January 2020. On 1st March 2020, a plant costing

Rs. 80,000 was purchased for the contract. A part of the plant costing Rs. 8,000 was

unsuitable and returned to store on 31st May 2010. Plant costing Rs. 6,000 was stolen from

the site at the beginning. Plant costing Rs. 20,000 was sold for Rs. 13,000 on 31st December

2020. Accounts are closed on 31st December every year. Charge depreciation 10% per

annum and show the treatment of plant in the contract account treating it as a long-term

contract.