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Please answer the following theres two parts to the question Exercise 1-11 (Algo) Balance sheet identification and preparation LO P1 End-of-year current assets for two
Please answer the following theres two parts to the question
Exercise 1-11 (Algo) Balance sheet identification and preparation LO P1 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 Company 1 Company 2 Cash $ 12,000 $ 10,cee Merchandise inventory 42,875 Raw materials inventory 39,875 Work in process inventory 29,000 Finished goods inventory 49,000 Accounts receivable, net 62,00 70,000 Prepaid expenses 4,500 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. 900 Complete this question by entering your answers in the tabs below. Reg 1 Reg 2A Reg 28 Prepare the current asset section of the balance sheet at December 31 for Company 1. Sunrise Foods Current Assets Section of Balance Sheet December 31 Total current assets S Exercise 1-11 (Algo) Balance sheet identification and preparation LO P1 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 Company 1 Company 2 Cash $ 12,000 $ 10,000 Merchandise inventory 42,875 Raw materials inventory 39,875 work in process inventory 29,800 Finished goods inventory 49,880 Accounts receivable, net 62,000 70,000 Prepaid expenses 4,500 900 1. Identify which set of numbers relates to the manufacturer and which to the merchandiser. 2a. & 2. Prepare the current asset section of the balance sheet at December 31 for each company. Complete this question by entering your answers in the tabs below. Req 1 Req 2A Req 28 Prepare the current asset section of the balance sheet at December 31 for Company 2. Rayzer Skis Manufacturing Current Assets Section of Balance Sheet December 31 Total current assets SStep by Step Solution
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