Question

When there is a Loss of Materials and Plant)
18. Mis Buildwell Contractors Ltd. having an authorised capital of 1,00.000 divided into 1,000 ordine
shares of T 100 each commenced operations on 15 January, 2016 and during the year was engaged in
contract, the contract price of which was 4,00,000. The trial balance extracted from their books
31" December, 2016 stood as follows:
3
80.000
Share Capital being 80 paid up
8.000
Sundry Creditors
Land & Building at cost
34,000
Casb at Bank
9,000
Materials
80,000
Plant
15,000
1,05,000
Expenses
5,000
Canh received being 80% of work certified
1.60,000
2.48.000
of the plant and materials charged to the contract, Plant costing * 3,000 and materials costing ? 2,400
wort destroyed by an accident.
On ist December, 2016 Plant which costs 4,000 was returned to store, the value of materials
was 3,000 and the cost of work done but not certified was * 2,000.
Charge 10% depreciation on Piant and prepare the Contract Account for the year 2016 and the Bearer
Shnetas on 31st December, 2016.
Jams. Net Profit* 8,646, Reserve 7,560; Balance Sheet Total 91,240]​

Answer 1

Answer:

sorry sis I don't know this