C limited is a firm of building contractors, the information provided relates to their uncompleted
contracts on 31 December 2010.
Contract A B C D
Date contract commenced 1/1/2010 1/2/2010 1/1/2010 1/10/2010
Expected completion date 30/4/2011 30/3/2011 31/1/2011 31/3/2012
Cost of work to Dec 2010 159,000 57,000 15,000 4,000
Estimated further cost 36,000 15,000 2,000 62,000
Value of work certified to Dec 2010 200,000 50,000 18,000 0
Contract price 260,000 65,000 21,000 75,000
Progress payment received at 31/12/2010 175,000 40,000 0 0
Required
Assuming they use the % of completion method, prepare a statement of information in respect of
the 4 contracts which appear in the statement of financial position of C limited as at 31/12/2010.