The following is a summary of the entries in a contract ledger as on 31st Chaitra 2081. Material purchasedRs. 70,000Material from storeRs. 200,000Direct labourRs. 100,000Site office expensesRs.…

The following is a summary of the entries in a contract ledger as on 31st Chaitra 2081. Material purchasedRs. 70,000Material from storeRs. 200,000Direct labourRs. 100,000Site office expensesRs. 30,000Other expensesRs. 10,000Plant installedRs. 200,000Sub-contract costRs. 10,000 The additional information are as follows: i. 5% of the value of work certified still remained to be certified. ii. Material returned to store Rs. 8,000. iii. Material costing Rs. 15,000 sold at a profit of Rs. 1,000. iv. Depreciation on plant @ 15% p.a. v. Material at site Rs. 10,000 vi. Cash received from contractor Rs. 540,000 being 90% of work certified. vii. Contract price Rs. 900,000. Required: a. Contract account b. Contractee's account c. Work in progress account d. Balance sheet [7+2+2+4]