Question: The screen shot is the problem. What goes in the blanks? Current assets for two different companies at scal year-end are listed here. One is


The screen shot is the problem. What goes in the blanks?



Current assets for two different companies at scal 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 Cash $12,000 $10,000 Raw materials inventory 4 1 , 2 5 0 Merchandise inventory 44 , 2 5 0 Work in process inventory 30 , 000 Finished goods inventory 50 , 000 Accounts receivable , net 60 , 000 85 , 000 Prepaid expenses 3, 500 700 Required: 1. Identify which set of numbers relates to the manufacturer and which to the merchandiser. 2a. 8: 2b. Prepare the current asset section for each company from this information. Complete this question by entering your answers in the tabs below. Prepare the current asset section for Company 1 from this information. Total current assets m Required: 1. Identify which set of numbers relates to the manufacturer and which to the merchandiser. 2a. 8: 2b. Prepare the current asset section for each company from this information. Complete this question by entering your answers in the tabs below. Prepare the current asset section for Company 2 from this information. Total current assets
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
