Which of the following transactions do not affect cash?
1. Convert debt to common stock
2. Credit sales
3. Purchase a fixed asset by issuing debt
4. Accept rental deposit
5. Write-off of prepaid expenses
A) 1 and 2
B) 4 and 5
C) 1, 2, and 3
D) 3, 4, and 5
E) 1, 2, 3, and 5
E
Business
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Variable overhead costs incurred to self-construct an asset should be included in the cost of the asset.
a. true b. false
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Fire Cat, Inc selected cost data for the year are shown below
Cost of Goods Manufactured $145,500 Work-in-Process Inventory, Jan. 1 19,500 Work-in-Process Inventory, Dec. 31 22,000 Direct Materials Used 18,600 What is the total of manufacturing costs incurred by Fire Cat, Inc during the year? A) $148,000 B) $143,000 C) $22,900 D) $38,100
Business