Mabel's Tees (MT) is a sole proprietorship owned and operated by Mabel Taylor. MT's takes plain t-shirts and prints or sews logos and designs on them for customers. Taylor is required to file financial statements with her bank each month in order to keep the company's credit line open. MT reported the following results for March:
The bank is especially concerned about the Working Capital ratio, so they want to be sure that MT is reporting its assets fairly.
What was MT's Ending Work in Process Inventory for the period?

Question

Mabel's Tees (MT) is a sole proprietorship owned and operated by Mabel Taylor. MT's takes plain t-shirts and prints or sews logos and designs on them for customers. Taylor is required to file financial statements with her bank each month in order to keep the company's credit line open. MT reported the following results for March:
  The bank is especially concerned about the Working Capital ratio, so they want to be sure that MT is reporting its assets fairly.
What was MT's Ending Work in Process Inventory for the period?

Quizplus · Accepted Answer

The Answer of Mabel's Tees (MT) is a sole proprietorship owned and operated by Mabel Taylor. MT's takes plain t-shirts and prints or sews logos and designs on them for customers. Taylor is required to file financial statements with her bank each month in order to keep the company's credit line open. MT reported the following results for March:
  The bank is especially concerned about the Working Capital ratio, so they want to be sure that MT is reporting its assets fairly.
What was MT's Ending Work in Process Inventory for the period?

Mabel's Tees (MT) Is a Sole Proprietorship Owned and Operated