A Prefabricated Steel Storage Shed Is Purchased for $20,000 Cash

Multiple Choice

A prefabricated steel storage shed is purchased for $20,000 cash and a $80,000 interest-bearing note payable over a 5-year period at an annual interest rate of 10 percent per annum.The cost to be recorded as an asset (in addition to the $100,000 purchase price) should include all of the following except

A) shipping and handling charges.
B) insurance while in transit.
C) interest on the note payable.
D) reassembly and installation costs.
E) All of these answer choices are costs to be recorded as assets.