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End-of-year current assets for two different companies follow. One is a manufacturer, Rayzer Skis Manufacturing, and the other, Sunrise Foods, is a merchandiser. Account Cash
End-of-year current assets for two different companies follow. One is a manufacturer, Rayzer Skis Manufacturing, and the other, Sunrise Foods, is a merchandiser. Account Cash Merchandise inventory Raw materials inventory Work in process inventory Finished goods inventory Accounts receivable, net Prepaid expenses Company 1 Company 2 $ 7,000 $ 5,000 45,000 42,000 30,000 50,000 62,000 75,000 1,500 900 1. Identify which set of numbers relates to the manufacturer and which to the merchandiser. 2a. & 2b. Prepare the current asset section of the balance sheet at December 31 for each company. Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Req 1 Req 2A Req 2B Prepare the current asset section of the balance sheet at December 31 for Company 2. . Current Assets Section of Balance Sheet December 31 Cash $ 5,000 Accounts receivable, net 75,000 Raw materials inventory 50,000 X Work in process inventory 30,000 Finished goods inventory 42,000 Prepaid expenses 900 Total current assets $ 202,900
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