Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

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,

image text in transcribed
image text in transcribed
image text in transcribed
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 Company Cash 19.000 $ 7.000 Raw materials Inventory Merchandise inventory 49,250 work in process inventory 30.000 Finished goods inventory 50.000 Accounts receivable, bet 63.000 2.000 Prepaid expenses 500 30 Required: (1) identity which set of numbers relates to the manufacturer and which to the merchandise (2) Prepare the current asset section for each comparvy from this information Complete this question by entering your answers in the tabs below. Reg 2 Reg 1 Reg2 Company 1 Company 2 Identity which set of numbers relates to the manufacturer and which to the merchandiset. Which of these company is manufacturer Which of these company is a merchandise 2 Company 1 Req2 Company > Soved > , > 41,250 44,250 Raw materials inventory Merchandise inventory Work in process inventory Finished goods inventory Accounts receivable, net Prepaid expenses 61,000 3,000 3e, eee 50, eee 82,000 6ee Required: (1) Identify which set of numbers relates to the manufacturer and which to the merchandiser. (2) Prepare the current asset section for each company from this information Complete this question by entering your answers in the tabs below. Reg 1 Reg 2 Company 1 Reg 2 Company 2 Prepare the current asset section for company 1 from this information Company 1 Sunrise Foods Balance Sheet-Current Asset Section December 31, 2017 Total current assets 0 trayed 9,000 >1,000 41,250 44,250 LOSTI Raw materials inventory Merchandise inventory Work in process inventory Finished goods inventory Accounts receivable, net Prepaid expenses 61,000 3,000 30,000 50,000 82,000 600 Required: (1) Identify which set of numbers relates to the manufacturer and which to the merchandiser, (2) Prepare the current asset section for each company from this information Complete this question by entering your answers in the tabs below. Req1 Reg 2 Company 1 Reg 2 Company 2 Prepare the current asset section for company 2 from this information Company 2 Rayzer Skis Mig Balance Sheet-Current Asset Section December 31, 2017 Total current assets s 0

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

The Essential Controller An Introduction To What Every Financial Manager Must Know

Authors: Steven M. Bragg

2nd Edition

1118169972, 9781118169971

More Books

Students also viewed these Accounting questions