Prepare a contract account for bradford on avon building ltd

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Reference no: EM131201807

Practice questions:

Prepare a contract account for Bradford-on-Avon Building Ltd based on the following information as at 31 December 1998:

Contract 267 Commencement date 1 January 1997
	£
Contact price	550,000
Materials delivered to site	42,220
Wages	68,880
Site expenses	16,250
Value of plant on 1 January	250,000
Materials on site at 31 December	3,850
Work certified	210,000
Cost of work completed but uncertified	10,500
Estimated costs of completion	286,250
Plant is depreciated at 20% per annum

Reference no: EM131201807

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