Percentage Completion of Work

2016 2017 2018

Cost incurred durin the year 550 825 375
Op. Material 50 75
End Material 50 75 100
Adj cost incurred during the year 500 800 350
cost incurred upto last year 0 500 1300
Total cost to date 500 1300 1650
Estimated further cost 1100 300 0
Estimated cost at completion 1600 1600 1650
% of completion 31% 81% 100%

Recg in recg. In
prior current
To date years year
2016 Revenue 625 0 625
cost 500 0 500
Profit 125 0 125

2017 Revenue 1625 625 1000

cost 1300 500 800
Profit 325 125 200

2018 Revenue 2000 1625 375

cost 1650 1300 350
Profit 350 325 25

CWIP A/R

Dr. Cr. Dr. Cr.

prg. Billing 600 Cash
Cost 550 Material 100 cl. Bal
Profit 125 Cl. Bal 575 600
2016 675 675
Op. bal 100 cash
prg. Billing 1100 cl. Bal
O/Bal. 575 1200
O/Bal. Mat 100
Cost 825 Material 150 Op. bal 200 cash
Profit 200 Cl. Bal 1550 prg. Billing 300 cl. Bal
2017 1700 1700 500

O/Bal. 1550
O/Bal. Mat 150 Loss -25
Cost 375 Material 200
P. Billing 4000

2018 2075 4175

Due from Customer

2016 2017 2018
op bal 25 -75
cost 500 800 350
profit 125 200 25
625 1025 300
Prog. Billing 600 1100 300
Due from Customer 25 -75 0

Balance Sheet
2016 2017 2018
Cash 950 1125 850
A/R 100 200 400
Material 50 75 100
Due from customer 25 -75 0
1125 1325 1350

Capital 1000 1000 1000

Retained Earning 125 325 350
1125 1325 1350
 Cash

Dr. Cr.
500 Capital 1000 cost 550
100 cash 500 Cl. Bal 950
600 1500 1500

1000 Op. bal 950 cost 825

200 Cash 1000 Cl. Bal 1125
1200 1950 1950

100 Op. bal 1125 cost 375

400 Cash 100 Cl. Bal 850
500 1225 1225