4. The following figures are available at the end of a financial year relating to a contract. Total cost of work done to date 1,10,350 Cost of work uncertified 8,300 Contract Price 5,80,000 Value of Work Certified 1,40,000 Determine the amount of Profit to be taken to Profit and Loss Account.
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profit of 2,60,000 is answer
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Amount of profit to be taken to Profit and Loss Account.
Amount of profit to be taken to Profit and Loss Account.
Value of work certified. 1, 40, 280 less: cost of work uncertified ( 1,10,350 - 8,300). 1,02,050 = 38,230
Value of work certified. 1, 40, 280 less: cost of work uncertified ( 1,10,350 - 8,300). 1,02,050 = 38,230
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