Question
Current assets for two different companies at fiscal year-end 2017 are listed here. One is a manufacturer, Rayzer Skis Mfg., and the other, Sunrise Foods,
Current assets for two different companies at fiscal year-end 2017 are listed here. One is a manufacturer, Rayzer Skis Mfg., and the other, Sunrise Foods, is a grocery distribution company.
| Account | Company 1 | Company 2 | ||||||
| Cash | $ | 14,000 | $ | 12,000 | ||||
| Raw materials inventory | 37,125 | |||||||
| Merchandise inventory | 40,125 | |||||||
| Work in process inventory | 27,000 | |||||||
| Finished goods inventory | 47,000 | |||||||
| Accounts receivable, net | 68,000 | 78,000 | ||||||
| Prepaid expenses | 4,000 | 800 | ||||||
- Req 1
- Identify which set of numbers relates to the manufacturer and which to the merchandiser.
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Req 2 company 1
Prepare the current asset section for company 1 from this information.
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Req 2
Company 2
Prepare the current asset section for company 2 from this information.
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Primary English Audit And Test Assessing Your Knowledge And Understanding
Authors: Doreen Challen
2nd Edition
190330086X, 978-1903300862
