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S.V.C instruction Ltd has obtained a contract for the construction of a bridge. Following information is shown in their books.Plant purchased Rs.60,000Wages paid Rs.3,40,000Material issued Rs.3,32,000Site expenses Rs.9,200General expenses Rs.32,000Wages accured Rs.2,800Work uncertified Rs.14,000Cash received being 80% of work certified Rs.6,00,000 Life of plant is five years. Ascertain the amount to be transferred to Profit and Loss Account? a) Rs.19,200 b) Rs.9,600 c) Rs.22,187 d) NIL |
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Answer» Correct option: b) RS 19,200 |
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