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PERCENTAGE COMPLETION METHOD

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10 March 2010 A & COMPANY STARTED CONSTRUCTION OF A PROJECT IN APRIL 2008.TYhe Expenses for the period 2008-09 is Rs 10Lakhs.Howevever construction was completed in January 2010.Advances From Customer was Rs 15 Lakhs.So How Will I chart out the profit & loss and balance sheet for the period of 2008-09
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
12 March 2010 Based on the total cost of the project out that how much cost incurred up to the 31.3.2009 .you need to calculate the percentge.based on this you need to recoganise the sales
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