Exercise 01-7 Balance sheet Identification and preparation LO C4 Current assets for two different companies at fiscal year-end are listed here. One is a manufacturer, Rayzer Skis Mfg, and the other, Sunrise Foods, is a grocery distribution company. Account Company 1 Company 2 1 2 Cash $ 8,000 $ 6,000 Raw materials inventory 39,875 Merchandise inventory 42,875 Work in process inventory 29,000 Finished goods inventory 49,000 Accounts receivable, net 58,000 78,000 Prepaid expenses 4,500 900 Required: 1. Identify which set of numbers relates to the manufacturer and which to the merchandiser. 2a. & 2b. Prepare the current asset section for each company from this information Complete this question by entering your answers in the tabs below. Reg 1 Req ZA Reg 28 Account Cash Raw materials inventory Merchandise inventory Work in process inventory Finished goods inventory Accounts receivable, net Prepaid expenses Company 1 Company 2 $ 8,000 $ 6,000 39,875 42,875 29,000 49,000 58,000 78,000 4,500 900 Required: 1. Identify which set of numbers relates to the manufacturer and which to the merchandiser. 2a. & 2b. Prepare the current asset section for each company from this information 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. Which of these company is manufacturer Which of these company is a merchandiser Required: 1. Identify which set of numbers relates to the manufacturer and which to the merchandiser. 2a. & 2b. Prepare the current asset section for each company from this information. Complete this question by entering your answers in the tabs below. Req 1 Req 2A Req 28 Prepare the current asset section for Company 1 from this information. Sunrise Foods Balance Sheet-Current Asset Section Fiscal Year-end Total current assets Nout Required: 1. Identify which set of numbers relates to the manufacturer and which to the merchandiser. 2a. & 2b. Prepare the current asset section for each company from this information. Complete this question by entering your answers in the tabs below. Req 1 Req 2A Req 2B Prepare the current asset section for Company 2 from this information. Rayzer Skis Mfg. Balance Sheet-Current Asset Section Fiscal Year-end Total current assets Chapter 10 JAVEL Beck Manufacturing reports the following information in T-account form for 2019. Begin. Inv. Purchases Avail. for use Raw Materials Inventory 10, 600 53,500 64,100 DM used 47,000 End. Inv. Begin. Inv. DM used Direct labor Overhead Manuf. costs 17, 100 Work in Process Inventory 15,600 47,000 27,900 56,500 147,000 Cost of goods manuf. 14,300 132,700 End. Inv. Finished Goods Inventory Begin. Inv. 21,700 Cost of goods manuf. 132,700 Avail. for sale 154,400 Cost of Goods Sold End. Inv. 18, 200 136,200 Required: 1. Prepare the schedule of cost of goods manufactured for the year. 2. Compute cost of goods sold for the year. Required: 1. Prepare the schedule of cost of goods manufactured for the year. 2. Compute cost of goods sold for the year. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare the schedule of cost of goods manufactured for the year. BECK MANUFACTURING Schedule of Cost of Goods Manufactured For Year Ended December 31, 2019 Total manufacturing costs 0 Total cost of work in process 0 Cost of goods manufactured LA Required: 1. Prepare the schedule of cost of goods manufactured for the year. 2. Compute cost of goods sold for the year. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute cost of goods sold for the year. BECK MANUFACTURING Partial Income Statement For Year Ended December 31, 2019 Cost of goods sold Goods available for sale 0 $ 0 Cost of goods sold Required 1