Homework Answers
| Date | Amount | Period | Weighted average amount |
| January 1 2021 | 270000 | 12/12 | 270000 |
| September 1 2021 | 384000 | 4/12 | 128000 |
| December 31 2021 | 384000 | 0 | 0 |
| Total | 398000 | ||
| Weighted average amount | 398000 | ||
| X Interest rate | 8% | ||
| Interest capitalized for 2021 | 31840 | ||
| Option A $31,840 is correct |
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J pour Save Answer On January 1, 2021 Kendall Inc began construction of an automated cattle...
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On January 1, 2021, Jenner Inc. began construction of an automated cattle feeder system. The system was finished and ready for use on September 30, 2022. Expenditures on the project were as follows: January 1, 2021 $ 235,000 September 1, 2021 $ 342,000 December 31, 2021 $ 342,000 March 31, 2022 $ 342,000 September 30, 2022 $ 235,000 Jenner borrowed $764,000 on a construction loan at 7% interest on January 1, 2021. This loan was outstanding throughout the construction period....
Question 15 (1 point) On January 1, 2018, Kendall Inc, began construction of an automated cattle...
Question 15 (1 point) On January 1, 2018, Kendall Inc, began construction of an automated cattle feeder system. The system was finished and ready for use on September 30, 2019. Expenditures on the project were as follows: January 1, 2018 $200,000 September 1, 2018 $300,000 December 31, 2018 $300,000 March 31, 2019 $300,000 September 30, 2019 $200,000 Kendall borrowed $750,000 on a construction loan at 12% interest on January 1. 2018. This loan was outstanding throughout the construction period. The...
Question 8 (1 point) On January 1, 2018, Kendall Inc, began construction of an automated cattle...
Question 8 (1 point) On January 1, 2018, Kendall Inc, began construction of an automated cattle feeder system. The system was finished and ready for use on September 30, 2019. Expenditures on the project were as follows: January 1, 2018 $200,000 September 1, 2018 $300,000 December 31, 2018 $300,000 March 31, 2019 $300,000 September 30, 2019 $200,000 Kendall borrowed $750,000 on a construction loan at 12% interest on January 1 2018. This loan was outstanding throughout the construction period. The...
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On January 1, 2021, the Mason Manufacturing Company began construction of a building to be used...
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 $1,740,000 1,380,000 1, 580,000 1, 380,000 387,000 720,000 1, 017, 000 On January 1, 2021, the company obtained a $4,300,000 construction loan with a...
On January 1, 2021, the Highlands Company began construction on a new manufacturing facility for its...
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On January 1, 2021, the Highlands Company began construction on a new manufacturing facility for its...
On January 1, 2021, the Highlands Company began construction on a new manufacturing facility for its own use. The building was completed in 2022. The company borrowed $2,000,000 at 13% on January 1 to help finance the construction. In addition to the construction loan, Highlands had the following debt outstanding throughout 2021: points $5.829.oe. 17% bonds $3.880.880.13% long-term note Construction expenditures incurred during 2021 were as follows: $ January 1 March 31 June 30 September 30 December 31 820,000 1,420.000...
On January 1, 2021, the Mason Manufacturing Company began construction of a building to be used...
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...
Question 15 (1 point) On January 1, 2018, Kendall Inc, began construction of an automated cattle feeder system. The system was finished and ready for use on September 30, 2019. Expenditures on the project were as follows: January 1, 2018 $200,000 September 1, 2018 $300,000 December 31, 2018 $300,000 March 31, 2019 $300,000 September 30, 2019 $200,000 Kendall borrowed $750,000 on a construction loan at 12% interest on January 1. 2018. This loan was outstanding throughout the construction period. The...
Question 8 (1 point) On January 1, 2018, Kendall Inc, began construction of an automated cattle feeder system. The system was finished and ready for use on September 30, 2019. Expenditures on the project were as follows: January 1, 2018 $200,000 September 1, 2018 $300,000 December 31, 2018 $300,000 March 31, 2019 $300,000 September 30, 2019 $200,000 Kendall borrowed $750,000 on a construction loan at 12% interest on January 1 2018. This loan was outstanding throughout the construction period. The...
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 $1,740,000 1,380,000 1, 580,000 1, 380,000 387,000 720,000 1, 017, 000 On January 1, 2021, the company obtained a $4,300,000 construction loan with a...
On January 1, 2021, the Highlands Company began construction on a new manufacturing facility for its own use. The building was completed in 2022. The company borrowed $2,000,000 at 13% on January 1 to help finance the construction. In addition to the construction loan, Highlands had the following debt outstanding throughout 2021: points $5.829.oe. 17% bonds $3.880.880.13% long-term note Construction expenditures incurred during 2021 were as follows: $ January 1 March 31 June 30 September 30 December 31 820,000 1,420.000...
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 $1,420,000 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...
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