Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

?? Current assets for two different companies at fiscal year-end 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 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 Merchandise inventory. 46,750 49,750 34,000 T 54,000 Work in process inventory Finished goods inventory Accounts receivable, net Prepaid expenses 69,000 67,000 900 4,500 Required: 1. Identify which set of numbers relates to the manufacturer and which to the merchandiser. 2a. & 2b. 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 2A Reg 28 Identify which set of numbers relates to the manufacturer and which to the merchandiser Which of these company is manufacturer Which of these company is a merchandiser Reg 2A > Current assets for two different companies at fiscal year-end 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 46,750 Raw materials inventory Merchandise inventory Work in process inventory 49,750 34,000 54,000 Finished goods inventory Accounts receivable, net Prepaid expenses 67,000 69,000 4,500 900 Required: 1. Identify which set of numbers relates to the manufacturer and which to the merchandiser. 2a. & 2b. Prepare the current asset section for each company from this information. Complete this question by entering your answers in the tabs below. Req 1 Reg 2A Req 28 Prepare the current asset section for Company 1 from this information. Sunrise Foods Balance Sheet-Current Asset Section Fiscal Year-end Total current assets Current assets for two different companies at fiscal year-end 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. Merchandise inventory 46,750 49,750 34,000 54,000 Work in process inventory Finished goods inventory. Accounts receivable, net Prepaid expenses 69,000 67,000 4,500 900 Required: 1. Identify which set of numbers relates to the manufacturer and which to the merchandiser. 2a. & 2b. Prepare the current asset section for each company from this information. Complete this question by entering your answers in the tabs below. Reg 1 Req 2A Req 28 Prepare the current asset section for Company 2 from this information. Rayzer Skis Mfg. Balance Sheet-Current Asset Section Fiscal Year-end

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

Step: 3

blur-text-image

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 Auditor Quo Vadis

Authors: Mervyn King, Linda De Beer

1st Edition

1138496774, 978-1138496774

More Books

Students also viewed these Accounting questions