On January 1, 2024, a company began construction of a new warehouse. The building was finished and ready for use on September 30, 2025. Expenditures on the project were as follows: January 1, 2024 $ 323,000 September 1, 2024 $ 483,000 December 31, 2024 $ 483,000 March 31, 2025 $ 483,000 September 30, 2025 $ 323,000 The company had $6,100,000 in 15% bonds outstanding through both years. Capitalized interest in 2024 was: Multiple Choice $84,712. $48,450. $72,600. $96,900.
On January 1, 2024, a company began construction of a new warehouse. The building was finished and ready for use on September 30, 2025. Expenditures on the project were as follows: January 1, 2024 $ 323,000 September 1, 2024 $ 483,000 December 31, 2024 $ 483,000 March 31, 2025 $ 483,000 September 30, 2025 $ 323,000 The company had $6,100,000 in 15% bonds outstanding through both years. Capitalized interest in 2024 was: Multiple Choice $84,712. $48,450. $72,600. $96,900.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
On January 1, 2024, a company began construction of a new warehouse. The building was finished and ready for use on September 30, 2025. Expenditures on the project were as follows: January 1, 2024 $ 323,000 September 1, 2024 $ 483,000 December 31, 2024 $ 483,000 March 31, 2025 $ 483,000 September 30, 2025 $ 323,000 The company had $6,100,000 in 15% bonds outstanding through both years. Capitalized interest in 2024 was:
Multiple Choice $84,712. $48,450. $72,600. $96,900.
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