Question: 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
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 | $ 15,000 | $ 13,000 |
| Merchandise inventory | 47,000 | |
| Raw materials inventory | 44,000 | |
| Work in process inventory | 32,000 | |
| Finished goods inventory | 52,000 | |
| Accounts receivable, net | 58,000 | 83,000 |
| 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 2B
Identify which set of numbers relates to the manufacturer and which to the merchandiser.
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Prepare the current asset section of the balance sheet at December 31 for Company 1.
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Prepare the current asset section of the balance sheet at December 31 for Company 2.
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