0. On 1 April 20X8 a company commenced construction work on a factory. The costs incurred are as follows: $ 000 Cost of site 600 30 Architect's fees Subcontractors' fees Site overheads 450 200 Allocation of head office overheads 48 The company financed the entire project with a loan taken out on 1 March 20X8 at an interest rate of 6% What is the carrying value of the factory in the financial statements for the year ended 31 December 20X8 assuming that it is not yet available for normal use?
0. On 1 April 20X8 a company commenced construction work on a factory. The costs incurred are as follows: $ 000 Cost of site 600 30 Architect's fees Subcontractors' fees Site overheads 450 200 Allocation of head office overheads 48 The company financed the entire project with a loan taken out on 1 March 20X8 at an interest rate of 6% What is the carrying value of the factory in the financial statements for the year ended 31 December 20X8 assuming that it is not yet available for normal use?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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