Question: 7. Award: 3.00 points End-of-year current assets for two different companies follow. One is a manufacturer, Rayzer Skis Manufacturing, and the other, Sunrise Foods, is

 7. Award: 3.00 points End-of-year current assets for two different companies

7. Award: 3.00 points 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 $ 7,000 $ 5,000 Merchandise inventory 45,625 Raw materials inventory 42,625 Work in process inventory 31,000 Finished goods inventory 51,000 Accounts receivable, net 69,000 73,000 Prepaid expenses 4,000 800 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 Req 28 Identify which set of numbers relates to the manufacturer and which to the merchandiser. Which of these company is a manufacturer? Which of these company is a merchandiser?

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!