FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
Bartleby Related Questions Icon

Related questions

Question
send me the correct solution please
The contract ledger of a company indicates the under mentioned expenditures on
the
Account of Contract "A" to 31d December 2003. Prepare Contract Account and
Contractee Account.
Materials Use your arid no as amount 6 digits 174361
Plant Rs. 40,000
Wages Rs. 128,000
Establishments expenses Rs. 12,000
The contract began in January 2003; the contract price being Rs. 800,000. Cash
received on account to date Rs. 480,000 which is 80% of the work certified; and the
remainder is to be paid as to 10% on the completion and the balance six months
after completion. The material on hand Rs. 20,000 and work not certified as Rs.
20,000.
expand button
Transcribed Image Text:The contract ledger of a company indicates the under mentioned expenditures on the Account of Contract "A" to 31d December 2003. Prepare Contract Account and Contractee Account. Materials Use your arid no as amount 6 digits 174361 Plant Rs. 40,000 Wages Rs. 128,000 Establishments expenses Rs. 12,000 The contract began in January 2003; the contract price being Rs. 800,000. Cash received on account to date Rs. 480,000 which is 80% of the work certified; and the remainder is to be paid as to 10% on the completion and the balance six months after completion. The material on hand Rs. 20,000 and work not certified as Rs. 20,000.
Expert Solution
Check Mark
Knowledge Booster
Background pattern image
Accounting
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
Recommended textbooks for you
Text book image
FINANCIAL ACCOUNTING
Accounting
ISBN:9781259964947
Author:Libby
Publisher:MCG
Text book image
Accounting
Accounting
ISBN:9781337272094
Author:WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:Cengage Learning,
Text book image
Accounting Information Systems
Accounting
ISBN:9781337619202
Author:Hall, James A.
Publisher:Cengage Learning,
Text book image
Horngren's Cost Accounting: A Managerial Emphasis...
Accounting
ISBN:9780134475585
Author:Srikant M. Datar, Madhav V. Rajan
Publisher:PEARSON
Text book image
Intermediate Accounting
Accounting
ISBN:9781259722660
Author:J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:McGraw-Hill Education
Text book image
Financial and Managerial Accounting
Accounting
ISBN:9781259726705
Author:John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:McGraw-Hill Education