Answered step by step
Verified Expert Solution
Question
1 Approved Answer
The following are the particulars in respect of Contract No. B-83 for the year ended on 31.12.2001. Pre- pare contract account. Materials Sent to Site
The following are the particulars in respect of Contract No. B-83 for the year ended on 31.12.2001. Pre- pare contract account. Materials Sent to Site 1,50,000. Wages Paid 1,80,000 Wages Unpaid 3,000 Other Expenses 26,000 Plant Installed at site 2,00,000 Materials Returned to Stores 5,000 Materials Lying Unconsumed 8,000 Materials Stolen from Site 10,000 Work Uncertified 11,000 Cash received from Contractee 3,60,000 Insurance Claim admitted for Materials Stolen 7,000 Plant is subject to depreciation p.a. and cash has been received to the extent of 90% of work certified. 72%
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started