29 Jun Question acct 212 homework 3 chapter 18
Question
acct 212 homework 3 chapter 18
Exercise 18-7 Balance sheet identification and preparation L.O. C4
[The following information applies to the questions displayed below.]
Current assets for two different companies at calendar year-end 2011 are listed here. One is a manufacturer, Roller Blades Mfg., and the other, Sunny Foods, is a grocery distribution company.
Account
Company 1
Company 2
Cash
$
9,000
$
7,000
Raw materials inventory
—
46,750
Merchandise inventory
49,750
—
Goods in process inventory
—
34,000
Finished goods inventory
—
54,000
Accounts receivable, net
59,000
81,000
Prepaid expenses
2,500
500
Section Break
Difficulty: Hard
Exercise 18-7 Balance sheet identification and preparation L.O. C4
Learning Objective: 18-C4 Explain how balance sheets and income statements for manufacturing and merchandising companies differ.
1.
award:
1 out of
1.00 point
Exercise 18-7 Part 1.1
(1.1)
Identify which set of numbers relates to the manufacturer.
Company 1
Company 2
Company 2, Roller Blades Mfg., is a manufacturing company with 3 inventory categories (raw materials, goods in process, and finished goods).
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Multiple Choice
Difficulty: Hard
Exercise 18-7 Part 1.1
Learning Objective: 18-C4 Explain how balance sheets and income statements for manufacturing and merchandising companies differ.
2.
award:
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