Question

• Value of work certified Rs.1,20,000, Contract price Rs.2,00,000, Cash received Rs.90,000 and national profit
Rs.44,000. Amount transfer to profit & loss a/c
Answer
B.O Rs.22,000
A. Rs.20,550
EO Rs. 22,800
DO Rs.20,300
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Answer 1

Answer:

${260}^{2} 26 \sqrt[y]{?} \times \frac{?}{?} 1316 {?}^{?} \times \frac{?}{?} {. \sqrt{?} }^{2} \sqrt{2 {2}^{2} } 2 \frac{26}{?} 3x$

soleve it now

Answer 2

Given,

Value of work certified = Rs. 1,20,000

Contract price = Rs. 2,00,000

Cash received = Rs. 90,000

National profit = Rs. 44,000

To calculate,

The amount moved to the profit and loss account.

Solution,

The amount transferred to the profit and loss account will be Rs. 22,000. (Option A)

The numerical problem may be easily solved using the following strategy.

We know that,

Value of work certified = Rs. 1,20,000

Contract price = Rs. 2,00,000

Cash received = Rs. 90,000

National profit = Rs. 44,000

Now,

The amount moved to the profit and loss account may be determined analytically using the following formula:

⇒ $\frac{2}{3}$ * (National profit) * $\frac{cash received}{work certified}$

By simply putting the respective values in the mathematical expression, we can calculate the amount transferred to the profit and loss account.

Thus,

Amount to loss and profit account = $\frac{2}{3}* 44,000* \frac{90,000}{1,20,000}$

                                                         = Rs. 22,000

As a result, the amount transferred to the profit and loss account will be Rs. 22,000. (Option A)