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On January 1, 2021, Dreamworld Co. began construction of a new warehouse. The building was finished and ready for use on September 30, 2022. Expenditures on the project were as follows: January 1, 2021 $ 334,000 September 1, 2021 $ 498,000 December 31, 2021 $ 498,000 March 31, 2022 $ 498,000 September 30, 2022 S 334,000 Dreamworld had $6,600,000 in 12% bonds outstanding through both years. The average accumulated expenditures for 2022 by the end of the construction period was: Multiple Choice $1,080,500. $2,162,000. $1,390,000. $1733 000

On January 1, 2021, Dreamworld Co. began construction of a new warehouse. The building was finished and ready for use on September 30, 2022. Expenditures on the project were as follows: January 1, 2021 $ 334,000 September 1, 2021 $ 498,000 December 31, 2021 $ 498,000 March 31, 2022 $ 498,000 September 30, 2022 S 334,000 Dreamworld had $6,600,000 in 12% bonds outstanding through both years. The average accumulated expenditures for 2022 by the end of the construction period was: Multiple Choice $1,080,500. $2,162,000. $1,390,000. $1733 000

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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On January 1, 2021, Dreamworld Co. began construction of a new warehouse. The building was finished and ready for use on September 30, 2022. Expenditures on the project were as follows: January 1, 2021 $ 334,000 September 1, 2021 $ 498,000 December 31, 2021 $ 498,000 March 31, 2022 $ 498,000 September 30, 2022 $ 334,000 Dreamworld had $6,600,000 in 12% bonds outstanding through both years. The average accumulated expenditures for 2022 by the end of the construction period was: Multiple Choice $1,080,500. $2,162,000. $1,390,000. $1,722,000.
Transcribed Image Text:On January 1, 2021, Dreamworld Co. began construction of a new warehouse. The building was finished and ready for use on September 30, 2022. Expenditures on the project were as follows: January 1, 2021 $ 334,000 September 1, 2021 $ 498,000 December 31, 2021 $ 498,000 March 31, 2022 $ 498,000 September 30, 2022 $ 334,000 Dreamworld had $6,600,000 in 12% bonds outstanding through both years. The average accumulated expenditures for 2022 by the end of the construction period was: Multiple Choice $1,080,500. $2,162,000. $1,390,000. $1,722,000.
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