Question

Consider the following selected amounts and account balances of Crater, Inc.: Manufacturing overhead.................................................................................................... $ 22,000
Accounts receivable...................................................................................... $ 75,000
Direct materials used.................................................................................... $ 15,100
Cost of goods sold........................................................................................ $ 100,000
Raw materials inventory................................................................................ $ 9,700
Cost of goods manufactured........................................................................ $ 99,000 Cash............................................................................................................... $ 15,200
Direct labor................................................................................................... $ 42,000
Marketing expense....................................................................................... $ 32,000
Work in process inventory............................................................................. $ 35,000
Finished goods inventory.............................................................................. $ 59,000
Prepaid expenses.......................................................................................... $ 5,500

Requirement
Show how this company reports current assets on the balance sheet. Not all data are used. Is this company a service company, a merchandiser, or a manufacturer? How do you know?



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  • CreatedAugust 27, 2014
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