Solved: Oneil inc began work on a 7000000 contract in 2010 to, Accounting Basics

+44 141 628 6080
[email protected]

Oneil inc began work on a 7000000 contract in 2010 to

1. O'Neil, Inc. began work on a $7,000,000 contract in 2010 to construct an office building. O'Neil uses the percentage-of-completion method. At December 31, 2010, the balances in certain accounts were: construction in process $2,450,000; accounts receivable $240,000; and billings on construction in process $1,400,000. Indicate how these accounts would be reported in O'Neil's December 31, 2010 balance sheet.

Solution Preview :

Prepared by a verified Expert

Accounting Basics: Oneil inc began work on a 7000000 contract in 2010 to

Reference No:- TGS01497261

Now Priced at $10 (50% Discount)

Recommended (99%)

Rated (4.3/5)

Have a Question? (oR Write a Review)

Write atleast 100 words!!

Recent Questions Asked Accounting Basics

Q : At december 31 2010 the estimated future costs to complete

1 turner inc began work on a 7000000 contract in 2010 to construct an office building during 2010 turner inc incurred

Q : What are some major causes of diabetes in first world

what are some major causes of diabetes in first world

Q : If you believe this is not possible explain why not words

can a retailer ever operate in a pure monopoly situation if you believe that this is possible provide an example and

Q : The financial section of a business plan is often the most

the financial section of a business plan is often the most difficult section to write below are 4 website articles that

Q : Oneil inc began work on a 7000000 contract in 2010 to

1 oneil inc began work on a 7000000 contract in 2010 to construct an office building oneil uses the

Q : In this discussion you will be able to identify and

in this discussion you will be able to identify and summarize a specific health care workers professional organization

Q : Nbsp1 the prosecutors discretion in determining which

assignment 4b multiple choice questions1 the prosecutors discretion in determining which cases to prosecute impacts

Q : Cultural sensitivity is crucial to local and global success

cultural sensitivity is crucial to local and global success it is very difficult to be aware of and sensitive to issues

Q : Describe the details of the case including the nature of

case mona yvette nelson this assignment is to demonstrate your mastery of how the criminal justice system works this

1936300

Questions
Asked

3,689

Active Tutors

1424087

Questions
Answered

Start Excelling in your courses, Ask a tutor for help and get answers for your problems !!

ask Question

Asked Questions

Discuss patient with athsma about use of bronchodilators

You're instructing a patient with athsma about the use of bronchodilators. You should teach the patient which one?

Discuss new forms of advertising changing opdps work

How have social media and other new forms of advertising changing OPDP's work?

Observing and reporting a correctional clients behavior

Observing and reporting a correctional client's behavior is extremely important, to ensure they receive the right mental health care.

Discussion about improve patient satisfaction scores

You are trying to improve patient satisfaction scores in your hospital's emergency department. You decide to poll 40 patients a day for three weeks.

Problem concerning about the risk for stroke

Sam is concerned about his risk for his stroke since his dad died of stroke at age 57 based on the following information why would you recommend

Patient presented with acute-onset abdominal pain

You are on your 5th straight duty in the Urgent Care and you are seeing a 18 yo may who presented with acute-onset abdominal pain for 2 days.

Discuss - male with a history of moderate persistent asthma

A nurse is caring for an 8-year-old male with a history of moderate persistent asthma. He is accompanied by his mom and dad who reported