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. Cash Account Merchandise inventory Raw materials inventory Work in process inventory Company 1 $ 6,000 42,875 Company 2 $ 4,000 39,875 29,000 Finished goods inventory 49,000 Accounts receivable, net 59,000 81,000 Prepaid expenses 3,000 600 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. Which of these company is a manufacturer? Company 1 Which of these company is a merchandiser? Company 2 < Req 1 Req 2A >

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. Cash Account Merchandise inventory Raw materials inventory Work in process inventory Company 1 $ 6,000 42,875 Company 2 $ 4,000 39,875 29,000 Finished goods inventory 49,000 Accounts receivable, net 59,000 81,000 Prepaid expenses 3,000 600 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. Which of these company is a manufacturer? Company 1 Which of these company is a merchandiser? Company 2 < Req 1 Req 2A >

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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