Contract commenced on apr 1,2001.The cost records yield the following on dec 31,2001.
material to site Rs.2150
labor Rs.5011
foremen Rs.631
other expenses Rs.1261
The contract price is rs. 20000.On dec 31,01 2/3of the contract was completed. architect's certificate has been issued covering rs 10000and rs 8000 has so far been paid on account.
material to site Rs.2150
labor Rs.5011
foremen Rs.631
other expenses Rs.1261
The contract price is rs. 20000.On dec 31,01 2/3of the contract was completed. architect's certificate has been issued covering rs 10000and rs 8000 has so far been paid on account.