The following figures are supplied to you by contractor for the year ending 31st December, 2015...

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The following figures are supplied to you by contractor for the year ending 31st December, 2015 Work-in-progress on 31/12/2014 Less cash received from contractee During the Year: Wages Material bought Materials issued from stores Working expenses Administrative exp. (Shs. 250 are chargeable to profit and loss a/c) Plant Material returned to supplier Material returned to stores Work certified Contracts finished Profits taken upon contacts Advances from contractee Required: i. Prepare contract ledger accounts ii. The total contractee's account Shs 85,000 55,000 Shs 30,000 8,500 6,000 10,500 1,500 1,250 2,500 450 550 15,000 22,500 11,500 40,000 (11marks) (3marks) iii. Show the work-in-progress as it would appear in the balance sheet (2marks) The following figures are supplied to you by contractor for the year ending 31st December, 2015 Work-in-progress on 31/12/2014 Less cash received from contractee During the Year: Wages Material bought Materials issued from stores Working expenses Administrative exp. (Shs. 250 are chargeable to profit and loss a/c) Plant Material returned to supplier Material returned to stores Work certified Contracts finished Profits taken upon contacts Advances from contractee Required: i. Prepare contract ledger accounts ii. The total contractee's account Shs 85,000 55,000 Shs 30,000 8,500 6,000 10,500 1,500 1,250 2,500 450 550 15,000 22,500 11,500 40,000 (11marks) (3marks) iii. Show the work-in-progress as it would appear in the balance sheet (2marks)

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