Maverick's, Inc. is constructing a new building. Construction began on 1/1/2011 and is completed on 12/31/2011....
| Maverick's, Inc. is constructing a new building. Construction began on 1/1/2011 and is | |||||||||
| completed on 12/31/2011. Payments to the contractor during the year are $881,457.45 on 2/1/2011, | |||||||||
| $984,658.50 on 8/1/2011, and $1,435,212.33 on 11/1/2011. | |||||||||
| Ranger Company borrowed $1,401,247.00 on 1/1/2011 on a 5 year, 3.25% loan to help finance | |||||||||
| construction of the building. In addition, the company had outstanding all year, a 7.15%, | |||||||||
| 3 year, $2,470,010.00 general purpose notes payable | |||||||||
| Based on the above information, what will be the avoidable interest? | |||||||||
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Maverick's, Inc. is constructing a new building. Construction began
on 1/1/2011 and is
completed
on 12/31/2011....
Arlington Company is constructing a building. Construction began on January 1 and was completed on December...
Arlington Company is constructing a building. Construction began on January 1 and was completed on December 31. Expenditures were $6,400,000 on March 1, $5,280,000 on June 1, and $8,000,000 on December 31. Arlington Company borrowed $3,200,000 on January 1 on a 5-year, 12% note to help finance construction of the building. In addition, the company had outstanding all year a 10%, 3-year, $6,400,000 note payable and an 11%, 4-year, $12,000,000 note payable. What is the avoidable interest for Arlington Company?
Nash Company is constructing a building. Construction began on February 1 and was completed on December...
Nash Company is constructing a building. Construction began on February 1 and was completed on December 31. Expenditures were $3,240,000 on March 1, $2,160,000 on June 1, and $5,400,000 on December 31. Nash Company borrowed $1,800,000 on March 1 on a 5-year, 10% note to help finance construction of the building. In addition, the company had outstanding all year a 12%, 5-year, $3,600,000 note payable and an 11%, 4-year, $6,300,000 note payable. Compute avoidable interest for Nash Company. Use the...
Stellar Company is constructing a building. Construction began on February 1 and was completed on December...
Stellar Company is constructing a building. Construction began on February 1 and was completed on December 31. Expenditures were $1,260,000 on March 1, $840,000 on June 1, and $2,100,000 on December 31. Stellar Company borrowed $700,000 on March 1 on a 5-year, 12% note to help finance construction of the building. In addition, the company had outstanding all year a 8%, 5-year, $1,400,000 note payable and an 11%, 4-year, $2,450,000 note payable. Compute avoidable interest for Stellar Company. Use the...
Larkspur Company is constructing a building. Construction began on February 1 and was completed on December 31. Expendit...
Larkspur Company is constructing a building. Construction began
on February 1 and was completed on December 31. Expenditures were
$2,016,000 on March 1, $1,296,000 on June 1, and $3,052,400 on
December 31.
Larkspur Company borrowed $1,137,000 on March 1 on a 5-year, 12%
note to help finance construction of the building. In addition, the
company had outstanding all year a 10%, 5-year, $2,453,000 note
payable and an 11%, 4-year, $3,176,300 note payable. Compute
avoidable interest for Larkspur Company. Use the...
Vaughn Company is constructing a building. Construction began on February 1 and was completed on December 31. Expenditur...
Vaughn Company is constructing a building. Construction began on
February 1 and was completed on December 31. Expenditures were
$1,260,000 on March 1, $840,000 on June 1, and $2,100,000 on
December 31.
Vaughn Company borrowed $700,000 on March 1 on a 5-year, 12% note
to help finance construction of the building. In addition, the
company had outstanding all year a 8%, 5-year, $1,400,000 note
payable and an 11%, 4-year, $2,450,000 note payable. Compute
avoidable interest for Vaughn Company. Use the...
Teal Company is constructing a building. Construction began on February 1 and was completed on December...
Teal Company is constructing a building. Construction began on
February 1 and was completed on December 31. Expenditures were
$4,680,000 on March 1, $3,120,000 on June 1, and $7,800,000 on
December 31.
Teal Company borrowed $2,600,000 on March 1 on a 5-year, 12% note
to help finance construction of the building. In addition, the
company had outstanding all year a 12%, 5-year, $5,200,000 note
payable and an 11%, 4-year, $9,100,000 note payable. Compute
avoidable interest for Teal Company. Use the...
Avoidable interest Pronghorn Company is constructing a building. Construction began on February 1 and was completed...
Avoidable interest
Pronghorn Company is constructing a building. Construction began on February 1 and was completed on December 31. Expenditures were $2,880.000 on March 1 $1.920,000 on June 1, and $4,800,000 on December 31 Pronghorn Company borrowed $1,600,000 on March 1 on a 5-year, 12% note to help finance construction of the building. In addition, the company had outstanding all year a 8%, 5-year, $3.200,000 note payable and an 11%, 4-year, 55,600,000 note payable Compute avoidable interest for Pronghorn Company....
Stellar Company is constructing a building. Construction began on February 1 and was completed on December...
Stellar Company is constructing a building. Construction began on February 1 and was completed on December 31. Expenditures were $5,040,000 on March 1, $3,360,000 on June 1, and $8,400,000 on December 31. Stellar Company borrowed $2,800,000 on March 1 on a 5-year, 12% note to help finance construction of the building. In addition, the company had outstanding all year a 8%, 5-year, $5,600,000 note payable and an 11%, 4-year, $9,800,000 note payable. Compute avoidable interest for Stellar Company. Use the...
Tamarisk Company is constructing a building. Construction began on February 1 and was completed on December...
Tamarisk Company is constructing a building. Construction began on February 1 and was completed on December 31. Expenditures were $4,140,000 on March 1, $2,760,000 on June 1, and $6,900,000 on December 31. Tamarisk Company borrowed $2,300,000 on March 1 on a 5-year, 12% note to help finance construction of the building. In addition, the company had outstanding all year a 10%, 5-year, $4,600,000 note payable and an 11%, 4-year, $8,050,000 note payable. Compute avoidable interest for Tamarisk Company. Use the...
Blue Company is constructing a building. Construction began on February 1 and was completed on December...
Blue Company is constructing a building. Construction began on February 1 and was completed on December 31. Expenditures were $4,860,000 on March 1, $3,240,000 on June 1, and $8,100,000 on December 31. Blue Company borrowed $2,700,000 on March 1 on a 5-year, 12% note to help finance construction of the building. In addition, the company had outstanding all year a 10%, 5-year, $5,400,000 note payable and an 11%, 4-year, $9,450,000 note payable. Compute avoidable interest for Blue Company. Use the...
Larkspur Company is constructing a building. Construction began
on February 1 and was completed on December 31. Expenditures were
$2,016,000 on March 1, $1,296,000 on June 1, and $3,052,400 on
December 31.
Larkspur Company borrowed $1,137,000 on March 1 on a 5-year, 12%
note to help finance construction of the building. In addition, the
company had outstanding all year a 10%, 5-year, $2,453,000 note
payable and an 11%, 4-year, $3,176,300 note payable. Compute
avoidable interest for Larkspur Company. Use the...
Vaughn Company is constructing a building. Construction began on
February 1 and was completed on December 31. Expenditures were
$1,260,000 on March 1, $840,000 on June 1, and $2,100,000 on
December 31.
Vaughn Company borrowed $700,000 on March 1 on a 5-year, 12% note
to help finance construction of the building. In addition, the
company had outstanding all year a 8%, 5-year, $1,400,000 note
payable and an 11%, 4-year, $2,450,000 note payable. Compute
avoidable interest for Vaughn Company. Use the...
Teal Company is constructing a building. Construction began on
February 1 and was completed on December 31. Expenditures were
$4,680,000 on March 1, $3,120,000 on June 1, and $7,800,000 on
December 31.
Teal Company borrowed $2,600,000 on March 1 on a 5-year, 12% note
to help finance construction of the building. In addition, the
company had outstanding all year a 12%, 5-year, $5,200,000 note
payable and an 11%, 4-year, $9,100,000 note payable. Compute
avoidable interest for Teal Company. Use the...
Avoidable interest
Pronghorn Company is constructing a building. Construction began on February 1 and was completed on December 31. Expenditures were $2,880.000 on March 1 $1.920,000 on June 1, and $4,800,000 on December 31 Pronghorn Company borrowed $1,600,000 on March 1 on a 5-year, 12% note to help finance construction of the building. In addition, the company had outstanding all year a 8%, 5-year, $3.200,000 note payable and an 11%, 4-year, 55,600,000 note payable Compute avoidable interest for Pronghorn Company....
Blue Company is constructing a building. Construction began on February 1 and was completed on December 31. Expenditures were $4,860,000 on March 1, $3,240,000 on June 1, and $8,100,000 on December 31. Blue Company borrowed $2,700,000 on March 1 on a 5-year, 12% note to help finance construction of the building. In addition, the company had outstanding all year a 10%, 5-year, $5,400,000 note payable and an 11%, 4-year, $9,450,000 note payable. Compute avoidable interest for Blue Company. Use the...
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