Practical Accounting for General Contractors

ACCOUNT Debit Accounts Payable Ledger Accrued Contract Cost Accrued Jobbing Cost Acct asset Balance As shown basis bills rendered Cash Record cent charges and credits classification columns construction contract and jobbing contractor control accounts cost accounts cost and income cost to finish credit Accounts Payable credit memos Credit With Accounts Cumulative Contract Ledger debit and credit deducted detail direct expense distribution Earned Contract Sales entered equal estimated cost extra orders Figure Analysis Book filed fiscal period fixed fee forecast foreman FORM gross profit Inventory Jobbing Ledger Jobbing Sales journal entry labor and expense Ledger accounts liability lump sum contracts month monthly Notes Receivable owner paid payment Payroll and Expense percentage performed Profit & Loss Profit and Loss receipts red figures requisition Reserve for Depreciation schedule set price contracts showing statement Stock store room orders sub-contractor symbol tion Transfer Treasury Stock Unearned Unfinished vouchers