From the following prepare contract account for three years 1984, 1985 and 1986.
|
1984 |
1985 |
1986 |
|
|
Materials issued |
1,10,000 |
1,20,000 |
80,000 |
|
Other charges |
10,000 |
8,000 |
20,000 |
|
Wages |
2,20,000 |
60,000 |
2,00,000 |
|
Machinery issued |
50,000 |
||
|
Value of machinery at the end of the year |
45,000 |
40,000 |
36,000 |
|
Materials returned |
1,000 |
500 |
|
|
Materials at site |
3,000 |
4,000 |
2,000 |
|
Work uncertified |
2,000 |
6,000 |
|
|
Work certified |
4,00,000 |
10,00,000 |
12,00,000 |
The contract price was Rs 12,00,000. Cash received was 80% of work certified.