Cash
Account
Merchandise inventory
Raw materials inventory
Work in process inventory
Finished goods inventory
Accounts receivable, net
Prepaid expenses
Company 1
$ 9,000
40,125
Company 2
$ 7,000
37,125
27,000
47,000
70,000
82,000
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
Prepare the current asset section of the balance sheet at December 31 for Company 1.
Current Assets Section of Balance Sheet
December 31
Total current assets
$ 0