STATEMENT OF PROFIT OR LOSS
Contract 1 Contract 2 Total
Rs.'000 Rs.'000 Rs.'000
Contra...
![subject](/tpl/images/cats/ekonomika.png)
Business, 29.04.2021 09:10 ashvinmsingh
STATEMENT OF PROFIT OR LOSS
Contract 1 Contract 2 Total
Rs.'000 Rs.'000 Rs.'000
Contract revenue 3,300 840 4,140
Contract expenses: (Contract 1: 4,000 X 60%) (2,400) (720) (3,120)
Expected loss recognised (Contract 2) - (170) (170)
Attributable profit/(loss) 900 (50) 850
STATEMENT OF FINANCIAL POSITION
Rs.'000
Current assets
Gross amount due from customers 1,800
Current liabilities
Gross amounts due to customers 210
Find out revenue, profit/loss, Amounts due from customers (contract 1), and Amounts due to customers (contract 2).
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Answers: 3
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