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Show balance sheet extract and statement of profit or loss

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Question - On 1st Jan 2020, P co has the following contact in progress

Rs.

Contract price 1500

Estimated cost 1100

(a) Show the balance sheet extract and statement of profit or loss extract as of December 31, 2020 if cost incurred to date was Rs. 275.

(b) Show the balance sheet extract and statement of profit or loss extract as of December 31, 2021 if cost incurred to date was Rs. 825.

Reference no: EM133113496

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