Friends,
Pls provide calculation of Notional profit Rs. 58500. in problem no. 9
3 Replies
CA LALIT WADHWA
(FRESHER)
(105 Points)
Replied 07 December 2011
calucation of 58500 given in ur attachment...so wats d problem..??
CA PRABHAKAR JHA
(ACA)
(313 Points)
Replied 07 December 2011
SANDEEP,
Here the Notional Profit is balancing figure, It is just like a gross profit calculations, You have given all the cost you have incurred and closing stock of materails. You have also the figure of sales i.e, Value of work certified and Value of work uncertified. So, It is just a balancing figure.
Notional Profit = Work Certified+ Work Uncertified - Cost Incurred So Far
You may also refer follwing link
ALOK RATNA
(CHIEF CONSULTANT)
(190 Points)
Replied 18 December 2011
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