Contract price 8,00,000; Notional profit 1,20,000; Cash receied 80%; Value of work certified 4,00,000; Cost of
work uncertified 1,20,000; therefore amount of profit credited to Profit and loss account is *
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Rs. Rs.
To Stock A/c 50,000 By building A/c 5,00,000
A 2,31,000
B 1,54,000 Partners' Capital Accounts
C 60,000 90,000 30,000 (Dr.)
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