Art, asked by vasudev2188, 10 days ago

From the information given below. calculate the profit that can be credited to profit and loss account.
Notional profit Rs. 79,000
Cash Rs. 3,30,000
Work certified Rs. 4,00,000
Contract price Rs. 6,00,000

Answers

Answered by nimmalakafle9

0

Answer:

A/c is computed as follows: Notional Profit x 2/3 x Cash Received/ Work Certified. = 2,00,000 x 2/3 x 90% = Rs. 1, 20,000.

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