Question

13. Embassy Construction Company undertakes large contracts. The following particulars
relate to contract No. 125 carried out during the year ended on 31st March, 2018.
Particulars:
Contract price - Rs. 2,00,000
Materials sent to site - Rs. 64,500
Labour - Rs. 54,800
Establishment charge - Rs. 3,250
Direct expenditure - Rs. 2,400
Wages accrued on 31st March 2018- Rs. 1,800
Plant installed at site - Rs. 11,300
Materials on hand on 31st March 2018- Rs. 1,400
Value of plant on 31st March 2018- Rs. 8,200
Materials returned to store - Rs. 400
Direct expenditure accrued on 31st March 2018- Rs. 200
Work certified by architect - Rs. 1,43,000
Cost of work not certified - Rs. 3,400
Cash received from Contractee- Rs. 1,30,000
Prepare a Contract Account for the period ending 31st March 2018.​

Answer 1

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Explanation:

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