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Please help me out with these questions there are two parts to each of them: Problem 1- 1 out of 2 2 out of 2
Please help me out with these questions there are two parts to each of them:
Problem 1- 1 out of 2
2 out of 2
Problem 2- 1 out of 2
2 out of 2
Please answer as many as you can Id really appreciate it
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 $ 5,000 $ 3,000 Merchandise inventory 41,500 Raw materials inventory 38,500 work in process inventory 28,888 Finished goods inventory 48,000 Accounts receivable, net 64,000 67,000 Prepaid expenses 5,000 1,000 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 Complete this question by entering your answers in the tabs below. Req 1 Req 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 0 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 $ 5,600 $ 3,000 Merchandise inventory 41,500 Raw materials inventory 38,500 Work in process inventory 28,000 Finished goods inventory 48,000 Accounts receivable, net 64,000 67,000 Prepaid expenses 5,000 1,000 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. Complete this question by entering your answers in the tabs below. Reg 1 Req 2A Req 2B 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 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 $ 5,000 $ 3,000 Merchandise inventory 41,500 Raw materials inventory 38,500 Work in process inventory 28,000 Finished goods inventory 48,eee Accounts receivable, net 64,000 67,000 Prepaid expenses 5, eee 1,000 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 not complete. Complete this question by entering your answers in the tabs below. Reg 1 Req 2A Reg 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 $Step by Step Solution
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