The following is summary of the entries in a contract ledger as on 31st Chaitra 2080. Material purchaseRs. 60,000Material from storeRs. 10,000Direct labourRs. 15,000Other expensesRs. 12,000PlantRs.…

The following is summary of the entries in a contract ledger as on 31st Chaitra 2080. Material purchaseRs. 60,000Material from storeRs. 10,000Direct labourRs. 15,000Other expensesRs. 12,000PlantRs. 60,000Scrap soldRs. 4,000 The additional information are as follows: i. The cost of work uncertified included material Rs. 5,000 and other expenses Rs. 3,000. ii. Material lost by theft Rs. 1,000. iii. Plant costing Rs. 8,000 sold for Rs. 7,000. iv. Depreciation on plant at @ 15% p.a. v. Material at site Rs. 2,000. vi. Cash received from contract Rs. 120,000 being 80% of work certified. vii. Contract price Rs. 200,000. Required: Contract Account Contractee's Account Work in progress Account Balance Sheet [7+2+2+4]