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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 $14,000 Company 2 $12,000 Cash 45,375 Raw materials inventory Merchandise inventory 48,375 Work in process inventory 33,000 53,000 Finished goods inventory Accounts receivable, net Prepaid expenses 67,000 3,000 66,000 600 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.

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 $14,000 Company 2 $12,000 Cash 45,375 Raw materials inventory Merchandise inventory 48,375 Work in process inventory 33,000 53,000 Finished goods inventory Accounts receivable, net Prepaid expenses 67,000 3,000 66,000 600 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.

Financial Accounting: The Impact on Decision Makers
Financial Accounting: The Impact on Decision Makers
10th Edition
ISBN:9781305654174
Author:Gary A. Porter, Curtis L. Norton
Publisher:Gary A. Porter, Curtis L. Norton
Chapter5: Inventories And Cost Of Goods Sold
Section: Chapter Questions
Problem 5.2E: Inventoriable Costs During the first month of operations, ABC Company incurred the following costs...
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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 1 from this information. Sunrise Foods Balance Sheet-Current Asset Section Fiscal Year-end Total current assets 0 $ < Req 1 < Prev .......... Req 2B > 3 of 5 ‒‒‒ ‒‒‒ Next >
Transcribed Image Text: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 1 from this information. Sunrise Foods Balance Sheet-Current Asset Section Fiscal Year-end Total current assets 0 $ < Req 1 < Prev .......... Req 2B > 3 of 5 ‒‒‒ ‒‒‒ Next >
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 $14,000 Cash $12,000 45,375 48,375 33,000 Raw materials inventory Merchandise inventory Work in process inventory Finished goods inventory Accounts receivable, net Prepaid expenses 53,000 ed 67,000 66,000 600 3,000 ok Required: t 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. nt inces Complete this question by entering your answers in the tabs below. Req 1 Req 2A Req 2B Prepare the current asset section for Company 1 from this information. Sunrise Foods Balance Sheet-Current Asset Section Fiscal Year-end < Prev 3 of 5 # C Next > →
Transcribed Image Text: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 $14,000 Cash $12,000 45,375 48,375 33,000 Raw materials inventory Merchandise inventory Work in process inventory Finished goods inventory Accounts receivable, net Prepaid expenses 53,000 ed 67,000 66,000 600 3,000 ok Required: t 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. nt inces Complete this question by entering your answers in the tabs below. Req 1 Req 2A Req 2B Prepare the current asset section for Company 1 from this information. Sunrise Foods Balance Sheet-Current Asset Section Fiscal Year-end < Prev 3 of 5 # C Next > →
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