contract costing
This query is : Resolved
vikas verma
(Querist)
11 August 2010
plant rs. 260000
used at site for 146 days
a part of it costing rs. 5500 sold at a profit of 1000
how to adjust the above in contract account???
please help
used at site for 146 days
a part of it costing rs. 5500 sold at a profit of 1000
how to adjust the above in contract account???
please help
CMA Ramesh Krishnan
(Expert)
11 August 2010
If the plant is used for more than one contracts, it may be considered at general level not incoporating into contract account
If the plant is used only for the particular contract, the profit may be credited in to contract account
If the plant is used only for the particular contract, the profit may be credited in to contract account
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