+ G gaap - Google Search X Mail Krystal Rojo - Outlook B Quizzes BUSG-1341 2801 1 Sm X on expired X d2l.lonestar.edu/d21/Ims/quizzing/user/attempt/quiz_start_frame_auto.d2l?ou=789729& isprv= &drc 1&qi 1367543&cfql= 08dnb=0 AHow to brief a case... B Discussion 5 -SPC... Y Yahoo ube Maps News G BUSG 1341: Exam 1 Krystal Rojo: Attempt 1 Time Taken:0:29:15 Est. Length: 2:00:00 Page 15 of 29 Next Page Previous Page Page 1: 1 Question 15 (4 points) Choose one among the three (3) listed items that a manufacturer's inventory may include: Page 2: 2 Pre-Ordered material inventory Page 3: Work-in-process inventory 3 Unused inventory Page 4: 4 Page 15 of 29 Next Page Previous Page Page 5: Submit Quiz 13 of 29 questions saved 5 Page 6: 6 o ea e here to search P L DII PrtScn Home End F2 F3 F4 F5 F6 F7 F8 F9 # $ 4 & 2 3 5 6 7 8 0 (e LL Ln Chapter 2 - The Balance Sheet Saved to this PC OTell me what you want to do Help View Review Slide Show Animations Transitions Design Draw ert Shape EE !- 10 AP A A Layout 18+ Shape Shapes Arrange Quick Reset EE Aa A Styles Shape AV ab B IUS de Section Drawing Paragraph Font Slides When the company ships a product to a customer on credit, it acquires a right to collect money from that customer at a specified time in the future. ASSETS CASH B ACCOUNTS RECEIVABLE These collection rights are totaled and reported on the Balance Sheet as Accounts Receivable (B). INVENTORY D PREPAID EXPENSES = E A B C+D CURRENT ASSETS Accounts receivable are owed to the company from customers (called "accounts") who were shipped goods but have not yet paid for them. OTHER ASSETS G FIXED ASSETS AT COST н ACCUMULATED DEPRECIATION G H I NET FIXED ASSETS Credit customers-most business between companies is done on credit-are commonly given payment terms that allow 30 or 60 days to pay. E FI J TOTAL ASSETS Inventory (C) is considered finished products for ready sale to customers and materials to be made into products. ASSETS A manufacturer's inventory includes: CASH В ACCOUNTS RECEIVABLE 1. Raw material inventory is unprocessed materials that will be used in manufacturing products. 2. Work-in-process inventory is partially finished products in the process of being manufactured. 3. Finished goods inventory is completed products ready for shipment to customers when they place orders. INVENTORY D PREPAID EXPENSES A B C D E CURRENT ASSETS OTHER ASSETS FIXED ASSETS AT COST G ACCUMULATED DEPRECIATION H G H I NET FIXED ASSETS As finished goods inventory is sold it becomes an accounts receivable and then cash when the customer pays. E F I J TOTAL ASSETS LSC Kingwood BUSG 1341 E. Diaz o add notes Notes en e here to search O DII x PrtScn Home Er F2 F3 F4 F5 F6 F7 F8 F9 # $ & 2 3 4 7 8 9