During 2020, Waterway Industries incurred weighted-average accumulated expenditures of $1620000 during construction of assets that qualified...
During 2020, Waterway Industries incurred weighted-average
accumulated expenditures of $1620000 during construction of assets
that qualified for capitalization of interest. The only debt
outstanding during 2020 was a $2030000, 11%, 5-year note payable
dated January 1, 2020. What is the amount of interest that should
be capitalized by Waterway during 2020?
Homework Answers
| Weighted-average accumulated expenditures | 1620000 |
| X Interest rate | 11% |
| Interest capitalized by Waterway during 2020 | 178200 |
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During 2020, Waterway Industries incurred weighted-average
accumulated expenditures of $1620000 during construction of assets
that qualified...
Question 6 --/10 View Policies Current Attempt in Progress During 2020, Vaughn Manufacturing incurred weighted average...
Question 6 --/10 View Policies Current Attempt in Progress During 2020, Vaughn Manufacturing incurred weighted average accumulated expenditures of $1590000 during construction of assets that qualified for capitalization of interest. The only debt outstanding during 2020 was a $2040000, 12%, 5-year note payable dated January 1, 2020. What is the amount of interest that should be capitalized by Vaughn during 2020? $190800. $244800. $0. $54000.
During 2016, Glass Corporation constructed assets costing $1,000,000. The weighted-average accumulated expenditures on these assets during...
During 2016, Glass Corporation constructed assets costing $1,000,000. The weighted-average accumulated expenditures on these assets during 2016 was $600,000. To help pay for construction, $440,000 was borrowed at 10% on January 1, 2016, and funds not needed for construction were temporarily invested in short-term securities, yielding $9,000 in interest revenue. Other than the construction funds borrowed, the only other debt outstanding during the year was a $500,000, 10-year, 9% note payable dated January 1, 2005. The amount of interest that...
During 2012, Bass Corporation constructed assets costing $2,000,000. The weighted-average accumulated expenditures on these assets during...
During 2012, Bass Corporation constructed assets costing $2,000,000. The weighted-average accumulated expenditures on these assets during 2012 was $600,000. To help pay for construction, $880,000 was borrowed at 10% on January 1, 2012, and funds not needed for construction were temporarily invested in short-term securities, yielding $18,000 in interest revenue. Other than the construction funds borrowed, the only other debt outstanding during the year was a $1,000,000, 10-year, 9% note payable dated January 1, 2006. What is the amount of...
Testbank Problem 139 During 2020, Debra Building Company constructed various assets at a total cost of...
Testbank Problem 139
During 2020, Debra Building Company constructed various assets
at a total cost of $12,600,000. The weighted average accumulated
expenditures on assets qualifying for capitalization of interest
during 2020 were $8,729,000. The company had the following debt
outstanding at December 31, 2020:
1.
10%, 5-year note to finance construction of various assets,
dated January 1, 2020, with interest payable annually on January
1
$5,313,000
2.
12%, ten-year bonds issued at par on December 31, 2014, with
interest payable...
9. On March 1, 2020, Bonita Industries purchased land for an office site by paying $2700000...
9. On March 1, 2020, Bonita Industries purchased land for an office site by paying $2700000 cash. Bonita began construction on the office building on March 1. The following expenditures were incurred for construction: Date Expenditures March 1, 2020 $ 1700000 April 1, 2020 2490000 May 1, 2020 4590000 June 1, 2020 4890000 The office was completed and ready for occupancy on July 1. To help pay for construction, and purchase of land $3550000 was borrowed on March 1, 2020...
Compute the weighted average accumulated expenditures on Crane's new building during the capitalization period. Weighted-Average Accumulated...
Compute the weighted average accumulated expenditures on Crane's new building during the capitalization period. Weighted-Average Accumulated Expenditures $ e Textbook and Media Compute the avoidable interest on Crane's new building. (Round intermediate percentage calculation to 1 decimal place, e.g. 15.6% and final answer to O decimal places, e.g. 5,125.) Avoidable Interest $ e Textbook and Media Some interest cost of Crane Inc. is capitalized for the year ended May 31, 2021. Compute the amount of each items that must be...
During 2017, Barden Building Company constructed various assets at a total cost of $12,600,000. The weighted...
During 2017, Barden Building Company constructed various assets at a total cost of $12,600,000. The weighted average accumulated expenditures on assets qualifying for capitalization of interest during 2017 were $8,742,000. The company had the following debt outstanding at December 31, 2017: 1096, 5-year note to finance construction of various assets, dated January 1, 2017, with interest payable annually on January 1 1. $5,262,000 6,123,000 3,061,500 12%, ten-year bonds issued at par on December 31, 2011, with interest payable annually on...
During 2017, Barden Building Company constructed various assets at a total cost of $12,600,000. The weighted...
During 2017, Barden Building Company constructed various assets at a total cost of $12,600,000. The weighted average accumulated expenditures on assets qualifying for capitalization of interest during 2017 were $8,742,000. The company had the following debt outstanding at December 31, 2017: 1096, 5-year note to finance construction of various assets, dated January 1, 2017, with interest $5,262,000 6,123,000 3,061,500 payable annually on January 1 12%, ten-year bonds issued at par on December 31, 2011, with interest payable annually on December...
Early in 2020, Dobbs Corporation engaged Kiner, Inc. to design and construct a complete modernization of...
Early in 2020, Dobbs Corporation engaged Kiner, Inc. to design
and construct a complete modernization of Dobbs's manufacturing
facility. Construction was begun on June 1, 2020 and was completed
on December 31, 2020. Dobbs made the following payments to Kiner,
Inc. during 2020:
Date
Payment
June 1, 2020
$1,680,000
August 31, 2020
2,520,000
December 31, 2020
2,100,000
In order to help finance the construction, Dobbs issued the
following during 2020:
1.
$1,428,000 of 10-year, 9% bonds payable, issued at par...
Testbank Problem 140 Early in 2020, Dobbs Corporation engaged Kiner, Inc. to design and construct a...
Testbank Problem 140
Early in 2020, Dobbs Corporation engaged Kiner, Inc. to design
and construct a complete modernization of Dobbs's manufacturing
facility. Construction was begun on June 1, 2020 and was completed
on December 31, 2020. Dobbs made the following payments to Kiner,
Inc. during 2020:
Date
Payment
June 1, 2020
$2,200,000
August 31, 2020
3,300,000
December 31, 2020
2,750,000
In order to help finance the construction, Dobbs issued the
following during 2020:
1.
$1,870,000 of 10-year, 9% bonds payable,...
Question 6 --/10 View Policies Current Attempt in Progress During 2020, Vaughn Manufacturing incurred weighted average accumulated expenditures of $1590000 during construction of assets that qualified for capitalization of interest. The only debt outstanding during 2020 was a $2040000, 12%, 5-year note payable dated January 1, 2020. What is the amount of interest that should be capitalized by Vaughn during 2020? $190800. $244800. $0. $54000.
Testbank Problem 139
During 2020, Debra Building Company constructed various assets
at a total cost of $12,600,000. The weighted average accumulated
expenditures on assets qualifying for capitalization of interest
during 2020 were $8,729,000. The company had the following debt
outstanding at December 31, 2020:
1.
10%, 5-year note to finance construction of various assets,
dated January 1, 2020, with interest payable annually on January
1
$5,313,000
2.
12%, ten-year bonds issued at par on December 31, 2014, with
interest payable...
9. On March 1, 2020, Bonita Industries purchased land for an office site by paying $2700000 cash. Bonita began construction on the office building on March 1. The following expenditures were incurred for construction: Date Expenditures March 1, 2020 $ 1700000 April 1, 2020 2490000 May 1, 2020 4590000 June 1, 2020 4890000 The office was completed and ready for occupancy on July 1. To help pay for construction, and purchase of land $3550000 was borrowed on March 1, 2020...
Compute the weighted average accumulated expenditures on Crane's new building during the capitalization period. Weighted-Average Accumulated Expenditures $ e Textbook and Media Compute the avoidable interest on Crane's new building. (Round intermediate percentage calculation to 1 decimal place, e.g. 15.6% and final answer to O decimal places, e.g. 5,125.) Avoidable Interest $ e Textbook and Media Some interest cost of Crane Inc. is capitalized for the year ended May 31, 2021. Compute the amount of each items that must be...
During 2017, Barden Building Company constructed various assets at a total cost of $12,600,000. The weighted average accumulated expenditures on assets qualifying for capitalization of interest during 2017 were $8,742,000. The company had the following debt outstanding at December 31, 2017: 1096, 5-year note to finance construction of various assets, dated January 1, 2017, with interest payable annually on January 1 1. $5,262,000 6,123,000 3,061,500 12%, ten-year bonds issued at par on December 31, 2011, with interest payable annually on...
During 2017, Barden Building Company constructed various assets at a total cost of $12,600,000. The weighted average accumulated expenditures on assets qualifying for capitalization of interest during 2017 were $8,742,000. The company had the following debt outstanding at December 31, 2017: 1096, 5-year note to finance construction of various assets, dated January 1, 2017, with interest $5,262,000 6,123,000 3,061,500 payable annually on January 1 12%, ten-year bonds issued at par on December 31, 2011, with interest payable annually on December...
Early in 2020, Dobbs Corporation engaged Kiner, Inc. to design
and construct a complete modernization of Dobbs's manufacturing
facility. Construction was begun on June 1, 2020 and was completed
on December 31, 2020. Dobbs made the following payments to Kiner,
Inc. during 2020:
Date
Payment
June 1, 2020
$1,680,000
August 31, 2020
2,520,000
December 31, 2020
2,100,000
In order to help finance the construction, Dobbs issued the
following during 2020:
1.
$1,428,000 of 10-year, 9% bonds payable, issued at par...
Testbank Problem 140
Early in 2020, Dobbs Corporation engaged Kiner, Inc. to design
and construct a complete modernization of Dobbs's manufacturing
facility. Construction was begun on June 1, 2020 and was completed
on December 31, 2020. Dobbs made the following payments to Kiner,
Inc. during 2020:
Date
Payment
June 1, 2020
$2,200,000
August 31, 2020
3,300,000
December 31, 2020
2,750,000
In order to help finance the construction, Dobbs issued the
following during 2020:
1.
$1,870,000 of 10-year, 9% bonds payable,...
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