Question

Consider the following selected amounts and account balances of Domer, Inc.:
Manufacturing overhead.............................................................................. $ 24,000
Accounts receivable..................................................................................... $ 84,000
Direct materials used................................................................................... $ 22,100
Cost of goods sold....................................................................................... $ 103,000
Raw materials inventory............................................................................... $ 10,200
Cost of goods manufactured....................................................................... $ 96,000 Cash.............................................................................................................. $ 15,200
Direct labor.................................................................................................. $ 49,000
Marketing expense...................................................................................... $ 30,000
Work in process inventory............................................................................ $ 37,000
Finished goods inventory............................................................................. $ 66,000
Prepaid expenses......................................................................................... $ 5,800

Requirement
Show how Domer 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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