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Illustration : 27 (When contract is given for Multiple years), , The following information relates to a building contract for = 10,00,000., , Particulars, , Materials Issued, Direct Wages, , Sub Contract Charges, , Debris Removal Charges, , General Expenses, , Supervision Charges, , Work Certified (Cumulative), , Work Uncertified, , Materials at Site at the End, , Plant Issued, , Materials Return to Stores, , Cash Received from Contractee during the Year, , The Value of Plant at end of 2017 and 2018 was & 7,000 and % 5, , prepare contract Account and Contractee’s Account for the years 2017 an, Profit transferred to Profit and Loss Account for the year 2017., , Solution., , 2017, , , , , , , , , , , , , , , , 3,00,000, 2,20,000, 12,000, 10,000, 6,000, 10,000, 7,350,000, 8,000, , Ctlober. 2nNQ 7»n «a, , , , , , , , , 2018, =, 84,000, 1,00,000, 10,000, , 1,400, , 5,000, 10,00,000, , 2,000