Question

Contract cost - Rs. 280000, contract value- Rs. 500000/-, cash received- Rs. 270000/-, uncertified work- Rs. 30000/-,deduction from bills by way of retention money is 10%, profit recorded in P/L A/C will be Rs. _______

 A) 50000/-

 B) 33333/-

 C) 30000/-

 D) 40000/-​

Answer 1

Answer:

C) 30000/-

Explanation:

Contract cost - Rs. 280000, contract value- Rs. 500000/-, cash received- Rs. 270000/-, uncertified work- Rs. 30000/-,deduction from bills by way of retention money is 10%, profit recorded in P/L A/C will be Rs. _______