On January 2, 2018, Indian River Groves began construction of a new citrus processing plant. The automated plant was finished and ready for use on September 30, 2019. Expenditures for the construction were as follows: January 2, 2018 £200,000 September 1, 2018 600,000 December 31, 2018 600,000 March 31, 2019 600,000 September 30, 2019 400,000 Indian River Groves borrowed £1,100,000 on a construction loan at 12% interest on January 2, 2018. This loan was outstanding during the construction period. The company also had £4,000,000 in 9% bonds outstanding in 2018 and 2019. What were the weighted-average accumulated expenditures for 2018?

On January 2, 2018, Indian River Groves began construction of a new citrus processing plant. The automated plant was finished and ready for use on September 30, 2019. Expenditures for the construction were as follows: January 2, 2018 £200,000 September 1, 2018 600,000 December 31, 2018 600,000 March 31, 2019 600,000 September 30, 2019 400,000 Indian River Groves borrowed £1,100,000 on a construction loan at 12% interest on January 2, 2018. This loan was outstanding during the construction period. The company also had £4,000,000 in 9% bonds outstanding in 2018 and 2019. What were the weighted-average accumulated expenditures for 2018?

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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