2. During 20x2, Grant Industries, Inc. constructed a manufacturing facility at a cost of P12,000,000. The weighted average accumulated expenditures for 20x2 were calculated to be P5,400,000. The company had the following debt outstanding at December 31, 2002: 10 percent, five-year note to finance construction of the manufacturing facility, dated January 1, 2002, P3,600,000. b. 12 percent, 20-year bonds issued at par on April 30, 20x1, P8,400,000. new a. C. 8 percent, six-year note payable, dated March 1, 20x1, P1,800,000.

2. During 20x2, Grant Industries, Inc. constructed a manufacturing facility at a cost of P12,000,000. The weighted average accumulated expenditures for 20x2 were calculated to be P5,400,000. The company had the following debt outstanding at December 31, 2002: 10 percent, five-year note to finance construction of the manufacturing facility, dated January 1, 2002, P3,600,000. b. 12 percent, 20-year bonds issued at par on April 30, 20x1, P8,400,000. new a. C. 8 percent, six-year note payable, dated March 1, 20x1, P1,800,000.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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