On completion of the contract the plant was returned subjéct tó à dep. of 20% on the original cost. The value of loose tools and stores returned were 6,600/- and 2,670/- The value of the tractor was Rs.60,000/- and the dep. was to be charged for the contract at 20%p.a. The amount of administration expenses to be charged to the contract is calculated at 10% on the total works cost. Prepare Contract A/ç
On completion of the contract the plant was returned subjéct tó à dep. of 20% on the original cost. The value of loose tools and stores returned were 6,600/- and 2,670/- The value of the tractor was Rs.60,000/- and the dep. was to be charged for the contract at 20%p.a. The amount of administration expenses to be charged to the contract is calculated at 10% on the total works cost. Prepare Contract A/ç
Chapter1: Financial Statements And Business Decisions
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Transcribed Image Text:On completion of the contract the plant was returned subject to a dep. of
20% on the original cost. The value of loose tools and stores returned were
6,600/- and 2,670/- The value of the tractor was Rs.60,000/- and the dep. was to
be charged for the contract at 20%p.a. The amount of administration expenses to
be charged to the contract is calculated at 10% on the total works cost. Prepare
Contract A/c
Transcribed Image Text:Lalahara Govinda Under took a contract for Rs.3,00,000. Which was
completed in 6 months. Following expenditure was made by the contractor to
complete the contract.
000 Direct Materials - 1,18,800/-; Wages – 79,200/-; Special plant - 52,800/-;
Stores issued - 21,120/-; Loose Tools 9,900/-; other direct charges - 7920;
running cost of tractor- 17,160/-
benb elosunco mont beriggue altin
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