6 thoughts on “Contract Accounting Practical Problems and Solutions”

  1. thank you for the wide clarification of contract accounting. it has been of positive impact on my knowledge of contract costing. I’m looking forward to learning more new things concerning accounting. thank you

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  2. Can you please help me solve this question?? The total contract price in respect of a contract was Rs. 20 lacs. On 31st March, 2018, the value of work certified was Rs. 15 lacs, and the total cost incurred was Rs. 11 lacs. Out of the total cost incurred, the work costing Rs. 50000 remained uncertified as on 31st March, 2018. The cash received was Rs. 10 lacs. You are required to compute amount of profit to be transferred to P&L A/c.

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