On July 31, 2017, Whispering Company engaged Minsk Tooling Company to construct a special-purpose piece of...
On July 31, 2017, Whispering Company engaged Minsk Tooling Company to construct a special-purpose piece of factory machinery. Construction was begun immediately and was completed on November 1, 2017. To help finance construction, on July 31 Whispering issued a $301,200, 3-year, 12% note payable at Netherlands National Bank, on which interest is payable each July 31. $195,200 of the proceeds of the note was paid to Minsk on July 31. The remainder of the proceeds was temporarily invested in short-term marketable securities (trading securities) at 10% until November 1. On November 1, Whispering made a final $106,000 payment to Minsk. Other than the note to Netherlands, Whispering’s only outstanding liability at December 31, 2017, is a $30,300, 8%, 6-year note payable, dated January 1, 2014, on which interest is payable each December 31. Calculate the interest revenue, weighted-average accumulated expenditures, avoidable interest, and total interest cost to be capitalized during 2017.
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On July 31, 2017, Whispering Company engaged Minsk Tooling
Company to construct a special-purpose piece of...
On July 31, 2020, Whispering Company engaged Minsk Tooling Company to construct a special-purpose piece of...
On July 31, 2020, Whispering Company engaged Minsk Tooling Company to construct a special-purpose piece of factory machinery. Construction begun immediately and was completed on November 1, 2020. To help finance construction, on July 31 Whispering issued a $320,400, 3-year, 12% note payable at Netherlands National Bank, on which interest is payable each July 31. $211,400 of the proceeds of the note was paid to Minsk on July 31. The remainder of the proceeds was temporarily invested in short-term marketable...
Exercise 10-9 (Part Level Submission) On July 31, 2017, Whispering Company engaged Minsk Tooling Company to...
Exercise 10-9 (Part Level Submission) On July 31, 2017, Whispering Company engaged Minsk Tooling Company to construct a special-purpose piece of factory machinery. Construction was begun immediately and was completed on November 1, 2017. To help finance construction, on July 31 Whispering issued a $301,200, 3-year, 12% note payable at Netherlands National Bank, on which interest is payable each July 31. $195,200 of the proceeds of the note was paid to Minsk on July 31. The remainder of the proceeds...
On July 31, 2017, Tamarisk Company engaged Minsk Tooling Company to construct a special-purpose piece of...
On July 31, 2017, Tamarisk Company engaged Minsk Tooling Company to construct a special-purpose piece of factory machinery. Construction was begun immediately and was completed on November 1, 2017. To help finance construction, on July 31 Tamarisk issued a $296,400, 3-year, 12% note payable at Netherlands National Bank, on which interest is payable each July 31. $190,400 of the proceeds of the note was paid to Minsk on July 31. The remainder of the proceeds was temporarily invested in short-term...
On July 31, 2020, Sarasota Company engaged Minsk Tooling Company to construct a special-purpose piece of...
On July 31, 2020, Sarasota Company engaged Minsk Tooling Company to construct a special-purpose piece of factory machinery. Construction begun immediately and was completed on November 1, 2020. To help finance construction, on July 31 Sarasota issued a $270,000, 3-year, 12% note payable at Netherlands National Bank, on which interest is payable each July 31. $175,000 of the proceeds of the note was paid to Minsk on July 31. The remainder of the proceeds was temporarily invested in short-term marketable...
On July 31, 2017, Concord Company engaged Minsk Tooling Company to construct a special-purpose piece of...
On July 31, 2017, Concord Company engaged Minsk Tooling Company to construct a special-purpose piece of factory machinery, Construction was begun immediately and was completed on November 1, 2017. To help finance construction, on July 31 Concord issued a $303,600, 3-year, 12% note payable at Netherlands National Bank, on which interest is payable each July 31. $196,600 of the proceeds of the note was paid to Minsk on July 31. The remainder of the proceeds was temporarily invested in short-term...
Question 5 On July 31, 2020, Cullumber Company engaged Minsk Tooling Company to construct a special-purpose...
Question 5 On July 31, 2020, Cullumber Company engaged Minsk Tooling Company to construct a special-purpose piece of factory machinery. Construction begun immediately and was completed on November 1, 2020. To help finance construction, on July 31 Cullumber issued a $326,400, 3-year, 12% note payable at Netherlands National Bank, on which interest is payable each July 31. $217,400 of the proceeds of the note was paid to Minsk on July 31. The remainder of the proceeds was temporarily invested in...
On July 31, 2020, Cheyenne Company engaged Minsk Tooling Company to construct a special-purpose piece of...
On July 31, 2020, Cheyenne Company engaged Minsk Tooling Company to construct a special-purpose piece of factory machinery. Construction begun immediately and was completed on November 1, 2020. To help finance construction, on July 31 Cheyenne issued a $303,600, 3-year, 12% note payable at Netherlands National Bank, on which interest is payable each July 31. $208,600 of the proceeds of the note was paid to Minsk on July 31. The remainder of the proceeds was temporarily invested in short-term marketable...
On July 31, 2020, Ivanhoe Company engaged Minsk Tooling Company to construct a special-purpose piece of...
On July 31, 2020, Ivanhoe Company engaged Minsk Tooling Company to construct a special-purpose piece of factory machinery. Construction begun immediately and was completed on November 1, 2020. To help finance construction, on July 31 Ivanhoe issued a $303,600, 3-year, 12% note payable at Netherlands National Bank, on which interest is payable each July 31. $196,600 of the proceeds of the note was paid to Minsk on July 31. The remainder of the proceeds was temporarily invested in short-term marketable...
Exercise 10-9 (Part Level Submission) On July 31, 2017, Pina Company engaged Minsk Tooling Company to...
Exercise 10-9 (Part Level Submission) On July 31, 2017, Pina
Company engaged Minsk Tooling Company to construct a
special-purpose piece of factory machinery. Construction was begun
immediately and was completed on November 1, 2017. To help finance
construction, on July 31 Pina issued a $278,400, 3-year, 12% note
payable at Netherlands National Bank, on which interest is payable
each July 31. $188,400 of the proceeds of the note was paid to
Minsk on July 31. The remainder of the proceeds...
Exercise 10-09 On July 31, 2020, Shamrock Company engaged Minsk Tooling Company to construct a special-purpose...
Exercise 10-09 On July 31, 2020, Shamrock Company engaged Minsk Tooling Company to construct a special-purpose piece of factory machinery. Construction begun immediately and was completed on November 1, 2020. To help finance construction, on July 31 Shamrock issued a $283,200, 3-year, 12% note payable at Netherlands National Bank, on which interest is payable each July 31. $175,200 of the proceeds of the note was paid to Minsk on July 31. The remainder of the proceeds was temporarily invested in...
On July 31, 2020, Whispering Company engaged Minsk Tooling Company to construct a special-purpose piece of factory machinery. Construction begun immediately and was completed on November 1, 2020. To help finance construction, on July 31 Whispering issued a $320,400, 3-year, 12% note payable at Netherlands National Bank, on which interest is payable each July 31. $211,400 of the proceeds of the note was paid to Minsk on July 31. The remainder of the proceeds was temporarily invested in short-term marketable...
On July 31, 2017, Tamarisk Company engaged Minsk Tooling Company to construct a special-purpose piece of factory machinery. Construction was begun immediately and was completed on November 1, 2017. To help finance construction, on July 31 Tamarisk issued a $296,400, 3-year, 12% note payable at Netherlands National Bank, on which interest is payable each July 31. $190,400 of the proceeds of the note was paid to Minsk on July 31. The remainder of the proceeds was temporarily invested in short-term...
On July 31, 2020, Sarasota Company engaged Minsk Tooling Company to construct a special-purpose piece of factory machinery. Construction begun immediately and was completed on November 1, 2020. To help finance construction, on July 31 Sarasota issued a $270,000, 3-year, 12% note payable at Netherlands National Bank, on which interest is payable each July 31. $175,000 of the proceeds of the note was paid to Minsk on July 31. The remainder of the proceeds was temporarily invested in short-term marketable...
On July 31, 2017, Concord Company engaged Minsk Tooling Company to construct a special-purpose piece of factory machinery, Construction was begun immediately and was completed on November 1, 2017. To help finance construction, on July 31 Concord issued a $303,600, 3-year, 12% note payable at Netherlands National Bank, on which interest is payable each July 31. $196,600 of the proceeds of the note was paid to Minsk on July 31. The remainder of the proceeds was temporarily invested in short-term...
Question 5 On July 31, 2020, Cullumber Company engaged Minsk Tooling Company to construct a special-purpose piece of factory machinery. Construction begun immediately and was completed on November 1, 2020. To help finance construction, on July 31 Cullumber issued a $326,400, 3-year, 12% note payable at Netherlands National Bank, on which interest is payable each July 31. $217,400 of the proceeds of the note was paid to Minsk on July 31. The remainder of the proceeds was temporarily invested in...
On July 31, 2020, Ivanhoe Company engaged Minsk Tooling Company to construct a special-purpose piece of factory machinery. Construction begun immediately and was completed on November 1, 2020. To help finance construction, on July 31 Ivanhoe issued a $303,600, 3-year, 12% note payable at Netherlands National Bank, on which interest is payable each July 31. $196,600 of the proceeds of the note was paid to Minsk on July 31. The remainder of the proceeds was temporarily invested in short-term marketable...
Exercise 10-9 (Part Level Submission) On July 31, 2017, Pina
Company engaged Minsk Tooling Company to construct a
special-purpose piece of factory machinery. Construction was begun
immediately and was completed on November 1, 2017. To help finance
construction, on July 31 Pina issued a $278,400, 3-year, 12% note
payable at Netherlands National Bank, on which interest is payable
each July 31. $188,400 of the proceeds of the note was paid to
Minsk on July 31. The remainder of the proceeds...
Exercise 10-09 On July 31, 2020, Shamrock Company engaged Minsk Tooling Company to construct a special-purpose piece of factory machinery. Construction begun immediately and was completed on November 1, 2020. To help finance construction, on July 31 Shamrock issued a $283,200, 3-year, 12% note payable at Netherlands National Bank, on which interest is payable each July 31. $175,200 of the proceeds of the note was paid to Minsk on July 31. The remainder of the proceeds was temporarily invested in...
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