Question the ABC Construction Company Lad won the contract for building an extension to Pinnacle Accountancy School with cont of Sb 200 million The Company's financial year ended 31-December 2015. The following information is available 11,600 Materialed to the site Cost of labour Plant installed on Jan 2015 Vehicle maintenance 10,000 5,800 Power expenses Administration changes (scaccal Subcontractenfors 3,650 20,450 Consultancy fee 15.000 Materials returned to stores 2.500 II Work certified 25,000 15.000 2.000 Cost of work net certified Closing stocks of materials Accrted expenses (wages Value of plante 31 December 2015 Payments from Pinnacle college 100 15.000 REQUIRED Prepare the 1) Coracao in) Value of work in progress Contracte (1ks) Question two ABC Construction Company Ltd won the contract for bolding an extension to Pinnacle Accountancy School at a cost of Sh 200 million The Company's financial year ended 31. December 2015. The following information is available: 30.500 11.600 Material ined to the site Cost of labour Plant installed on Jan 2015 Vehicle maintenance expenses 28.000 10.000 Power expenses 5.500 3.650 Administration changes (general) Subcontractors fees 20450 Consultancy fee 15.000 Materials returned to stores 500 = 25 000 15 000 Work certified Cost of work not certified Closing stocks of materials Accrued expenses (wages) Value of plant on 31 December 2015 Payments from Pinnacle college 300 15.000 REQUIRED Prepare the i) Contract account ii) Value of work in progress 1) Contracte account (1)