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Alexus [3.1K]
3 years ago
5

Each of the following transactions appear on the statement of cash​ flows, EXCEPT: A. depreciating longinus lived assets. B. acq

uiring longminus lived assets. C. disposing of longinus lived assets for non cash proceeds. OF. selling longminuslived assets.
Business
1 answer:
KiRa [710]3 years ago
3 0

Answer:

C. disposing of long minus lived assets for non cash proceeds

Explanation:

As we know that

Cash flow statement deals with the cash inflow and cash outflow of cash payments which increase or decrease the cash balance.

In another words, the inflow of cash increases the cash balance whereas the outflow of cash is decreases the cash balance

It includes operating activities, investing activities, and the financing activities.

Since all the given options includes the cash transactions except c.

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The Assembly Department produced 1,000 units of product during March. Each unit required 1.25 standard direct labor hours. There
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Answer:

Debit Work in process for $15,625

Debit Direct labor time variance for $625

Credit Direct labor rate variance for $650

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Direct labor rate variance = (Actual rate - Standard rate) * Actual hours = ($12 - $12.50) * 1,300 = -$650 Favorable

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Work in process = Wage payable + Absolute value of direct labor rate variance - Direct labor time variance = $15,600 + $650 - $625 = $15,625

The journal entries will now look as follows:

<u>Date           Particulars                                         Debit ($)           Credit ($)   </u>

Mar. 31       Work in process                                  15,625

                  Direct labor time variance                      625

                  Direct labor rate variance                                                 650

                  Wage payable                                                               15,600

<u><em>                   (To record the direct labor in the Assembly Department.)       </em></u>

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