USA Addition to Balance Sheet

[jwerderman]

My company currently has a number of open contracts, which could be referred to as work in process or open orders, or backlog. I want to show the remaining value of those contracts on my balance sheet. What journal entries would I need to complete and into what GL accounts, in order to have it accurately reflect as an asset of the company.

Thanks
Jeremy
Admin Director

 

[Capital]

The GL will be stock acc whill f second leg will be WIP acct and it will show as current asset