Question

The following expenses were incurred on an unfinished contract during the year 2012
Materials
Wages
Other expenses
790,000
360,000
R 30,000
2,00,000 was received by the contractor, being 80% of the work certified. Work done but not
certified was < 5,000. Determine the profit to be credited to profit and loss account and profit kept
reserve in all the three alteratives given below :
(1) Contract price is
3,00,000
(ii) Contract price is
5,50,000
(ii) Contract price is
$ 12,00,000​

Answer 1

Answer:

the following are incredibly efficient 2300 98500