PLEASE GIVE SOLUTION IN THE SAME FORMAT AS THE IMAGE THANK YOU!
2021 | 2022 | |||||
Interest Capitalized | $ 390,000 | $ 518,130 | ||||
Interest Expense | $ 1,500,000 | $ 1,371,870 | ||||
Cost of Building | = | $ 6,643,130 | ||||
Workings: | ||||||
Expenditure for 2021 | ||||||
Jan 1,2021 | $ 11,70,000 | X | 12/12 | = | $ 11,70,000 | |
March 1, 2021 | $ 8,40,000 | X | 10/12 | = | $ 7,00,000 | |
June 30, 2021 | $ 10,40,000 | X | 6/12 | = | $ 5,20,000 | |
October 1, 2021 | $ 8,40,000 | X | 3/12 | = | $ 2,10,000 | |
$ 38,90,000 | $ 26,00,000 | |||||
Interest Capitalized in 2021 | ||||||
$ 26,00,000 | X | 15.00% | = | $ 3,90,000 | ||
Expenditure for 2022 | ||||||
Jan 1, 2022 ($3890000+$390000) | $ 42,80,000 | X | 9/9 | = | $ 42,80,000 | |
Jan 31, 2022 | $ 3,06,000 | X | 8/9 | = | $ 2,72,000 | |
April 30, 2022 | $ 6,39,000 | X | 5/9 | = | $ 3,55,000 | |
August 31. 2022 | $ 9,00,000 | X | 1/9 | = | $ 1,00,000 | |
$ 61,25,000 | $ 50,07,000 | |||||
Interest Capitalized in 2020 | ||||||
$ 50,07,000 | ||||||
Less: | $ 30,00,000 | X | 15.00% | X 9/12 | = | $ 3,37,500 |
$ 20,07,000 | X | 12.00% | X 9/12 | = | $ 1,80,630 | |
Interest Capitalized in 2020 | = | $ 5,18,130 | ||||
Weighted Average rate of all debt:- | ||||||
$ 30,00,000 | X | 9% | = | $ 2,70,000 | ||
$ 90,00,000 | X | 13% | = | $ 11,70,000 | ||
$ 1,20,00,000 | $ 14,40,000 | |||||
Weighted Average rate of all debt = | 12.00% | |||||
($1440000/ 120,00,000) | ||||||
Interest Expense for 2021: | ||||||
Total Interest Incurred | ($3000000*15%)+($3000000*9%)+($9000000*13%) | = | $ 18,90,000 | |||
Less : Interest Capitalized | = | $ 3,90,000 | ||||
2021 Expense | = | $ 15,00,000 | ||||
Interest Expense for 2022: | ||||||
Total Interest Incurred | = | $ 18,90,000 | ||||
Less : Interest Capitalized | = | $ 5,18,130 | ||||
2022 Expense | = | $ 13,71,870 | ||||
Cost of Building | ||||||
Expenditure for 2021 | = | $ 38,90,000 | ||||
Interest Capitalized in 2021 | = | $ 3,90,000 | ||||
Expenditure for 2022 | = | $ 18,45,000 | ||||
Interest Capitalized in 2022 | = | $ 5,18,130 | ||||
Cost of Building | = | $ 66,43,130 |
PLEASE GIVE SOLUTION IN THE SAME FORMAT AS THE IMAGE THANK YOU! On January 1, 2021,...
No explanations are needed. Just give me the correct answers!
Thank you so much.
On January 1, 2021, the Mason Manufacturing Company began construction of a building to be used as its office headquarters. The building was completed on September 30, 2022. Expenditures on the project were as follows: January 1, 2021 March 1, 2021 June 30, 2021 October 1, 2021 January 31, 2022 April 30, 2022 August 31, 2022 $1,170,000 840,000 1,040,000 840,000 306,000 639,000 900,000 On January 1,...
Please Please Please give me the correct answers.. I do not need
any specific explanations, just fill in the blanks Plz.
On January 1, 2021, the Mason Manufacturing Company began construction of a building to be used as its office headquarters. The building was completed on September 30, 2022. Expenditures on the project were as follows: January 1, 2021 March 1, 2021 June 30, 2021 October 1, 2021 January 31, 2022 April 30, 2022 August 31, 2022 $1,170,000 840,000 1,040,000...
On January 1, 2021, the Mason Manufacturing Company began construction of a building to be used as its office headquarters. The building was completed on September 30, 2022. Expenditures on the project were as follows: January 1, 2021 March 1, 2021 June 30, 2021 October 1, 2021 January 31, 2022 April 30, 2022 August 31, 2022 $1,310,000 1,020,000 1,220,000 1,020,000 333,000 666,000 963,000 On January 1, 2021, the company obtained a $3,700,000 construction loan with a 12% interest rate. The...
PLEASE GIVE ME THE CORRECT ANSWERS! I DO NOT NEED ANY SPECIFIC
EXPLANATIONS. PLEASE JUST FILL IN THE BLANKS AND GIVE ME THE
CORRECT ANSWERS! PLEASE!
On January 1, 2021, the Mason Manufacturing Company began construction of a building to be used as its office headquarters. The building was completed on September 30, 2022. Expenditures on the project were as follows: January 1, 2021 March 1, 2021 June 30, 2021 October 1, 2021 January 31, 2022 April 30, 2022 August...
Please separate each part.
On January 1, 2021, the Mason Manufacturing Company began construction of a building to be used as its office headquarters. The building was completed on September 30, 2022. Expenditures on the project were as follows: January 1, 2021 March 1, 2021 June 30, 2021 October 1, 2021 January 31, 2022 April 30, 2022 August 31, 2022 $1,680,000 1,260,000 1,460,000 1,260,000 369,000 702,000 999,000 On January 1, 2021, the company obtained a $4,000,000 construction loan with a...
On January 1, 2021, the Mason Manufacturing Company began construction of a building to be used as its office headquarters. The building was completed on September 30, 2022. Expenditures on the project were as follows: January 1, 2021 March 1, 2021 June 30, 2021 October 1, 2021 January 31, 2022 April 30, 2022 August 31, 2022 $1,420,000 1,140,000 1,340,000 1,140,000 351,000 684,000 981,000 On January 1, 2021, the company obtained a $3,900,000 construction loan with a 12% interest rate. The...
Attach the calculation process thank
you
On January 1, 2021, the company obtained a $3 million loan with a 10% interest rate. The building was completed on September 30, 2022. Expenditures on the project were as follows: January 1, 2021 March 1, 2021 June 30, 2021 October 1, 2021 January 31, 2022 April 30, 2022 August 31, 2022 $1,300,000 750,000 300,000 650,000 495,000 810,000 1,350,000 On January 1, 2021, the company obtained a $3 million construction loan with a 10%...
On January 1, 2021,
the Mason Manufacturing Company began construction of a building to
be used as its office headquarters. The building was completed on
September 30, 2022. Expenditures on the project were as
follows:
January 1, 2021
$
1,090,000
March 1,
2021
780,000
June 30,
2021
980,000
October 1,
2021
780,000
January 31,
2022
297,000
April 30,
2022
630,000
August 31,
2022
927,000
On January 1, 2021, the company obtained a $3,300,000 construction
loan with a 16% interest rate....
On January 1, 2021, the Mason Manufacturing Company began
construction of a building to be used as its office headquarters.
The building was completed on September 30, 2022. Expenditures on
the project were as follows:
January 1, 2021 $ 1,350,000
March 1, 2021 1,080,000
June 30, 2021 1,280,000
October 1, 2021 1,080,000
January 31, 2022 342,000
April 30, 2022 $675,000
August 31, 2022 $972,000
On January 1, 2021, the company obtained a $3,800,000
construction loan with a 15% interest rate....
On January 1, 2021, the Mason Manufacturing Company began construction of a building to be used as its office headquarters. The building was completed on September 30, 2022. Expenditures on the project were as follows: January 1, 2021 March 1, 2021 June 30, 2021 October 1, 2021 January 31, 2022 April 30, 2022 August 31, 2022 $1,280,000 960,000 1,160,000 960,000 324,000 657,000 954,000 On January 1, 2021, the company obtained a $3,600,000 construction loan with a 15% interest rate. The...