1. Please find the solution.
   

Seating Capacity Seating Capacity occupied : 80% Fuel consuption : 1 litter per 6 km (CO4) Rate of fuel : Rs. 15 per litter. Following expenses were incurred by a contractor on a contact which he started on Ist January 2016 Particulars Materials 40,000 Wages 50,000 Other Expenses 15,000 Plant at Cost 50,000 Work Certified 1,20,000 Work uncertified 60,000 Materials on hand (31st Dec) 11,000 Plant value at close 43,000 Cash received from Contractee Materials returned to stores 1,00,000 2,000 Prepare Contract Account and Work-in-progress, assuming that the contract price was Rs. 3,50,000. How will Work - in-progress appear in the Balance Sheet of the Contractor ? OR Explain 39 . 28/0 8 (CO1 )