rract costing 9.

13
"'~ (otl
Con stru ctio n Co. Ltd. , star ted wor k on Con trac t No. 11 from
1 5 8 1st Janu ary,
t:i•111Pe • unn g data has bee n extr acte d from its boo ks in resp
,r,[ The fo11owm ect of this con trac t.
. f
- s purchased 1,29,000
l)irect labour paid 1,50,000
Expenses incurred at site 11,000
Plant & Machinery purc hase d for the con trac t 1,80,000
00 fuel and Power 25,000
ici Head Office expenses (Ful ly Cha rged )
55,000
am Payment received from cont ract ee
4,80,000
The contract price was t 12,00,000 and the valu e of wor k cert ified
f 6,00 ,000 . The cost of wor k
uncertified is t 20,000. mac hine ry cost ing t 20,0 00 was retu rned
to stor es at the end of the year .
Stock of materials at site was wor th 16,0 00 and wag es paid in adv ance wer e f 10,0 00.
Depreciation on Machinery was to be char ged at 20% . Prep are
Con trac t Ale , Wor k-in -pro gres s
Ale and the Contractee's Ale and show how items rela ting to
this con trac t will app ear in the
balance sheet as on 31.12.20.XX assu min g this was the only con trac
t und erta ken by the com pan y
during the year 20.XX.