problems on cost accounting

The Contract Ledger of a company showed the following particulars in respect of Contract No. 50 which was commenced on 1st April 2019:
Contract Accounting Problems and Solutions
The contract was completed by 31st March 2020 and the contract price was $2,00,000. The value of materials and plant returned to store on 31st March 2020 was $6,000 and $12,000 respectively. The contract price was received in full on 31st March.
Prepare Contract Account and Contractee’s Personal Account.



The following is the summarised record as on 31st March 2019, relating to Contract No. 414 completed during the year.
Problem No. 2
Required:
Prepare the Contract Account from the above particulars





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