On January 2, 2025, Indian River Groves began construction of a new citrus processing plant. The automated plant was finished and ready for use on September 30, 2025. Expenditures for the construction were as follows: January 2, 2025 September 1, 2025 December 31, 2025 March 31, 2026 $ 600000 1800000 O $900000 O $4344000 O $5958000 O $4158000 1800000 1800000 September 30, 2026 1200000 Indian River Groves borrowed $3300000 on a construction loan at 12% interest on January 2, 2025. This loan was outstanding during the construction period. The company also had $12000000 in 9% bonds outstanding in 2025 and 2026. What were the weighted-average accumulated expenditures for 2026 by the end of the construction period?
On January 2, 2025, Indian River Groves began construction of a new citrus processing plant. The automated plant was finished and ready for use on September 30, 2025. Expenditures for the construction were as follows: January 2, 2025 September 1, 2025 December 31, 2025 March 31, 2026 $ 600000 1800000 O $900000 O $4344000 O $5958000 O $4158000 1800000 1800000 September 30, 2026 1200000 Indian River Groves borrowed $3300000 on a construction loan at 12% interest on January 2, 2025. This loan was outstanding during the construction period. The company also had $12000000 in 9% bonds outstanding in 2025 and 2026. What were the weighted-average accumulated expenditures for 2026 by the end of the construction period?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Transcribed Image Text:On January 2, 2025, Indian River Groves began construction of a new citrus processing plant. The automated plant was finished and
ready for use on September 30, 2025. Expenditures for the construction were as follows:
January 2, 2025
September 1, 2025
December 31, 2025
March 31, 2026
September 30, 2026
$ 600000
O $900000
O $4344000
O $5958000
O $4158000
1800000
1800000
1800000
1200000
Indian River Groves borrowed $3300000 on a construction loan at 12% interest on January 2, 2025. This loan was outstanding during
the construction period. The company also had $12000000 in 9% bonds outstanding in 2025 and 2026.
What were the weighted-average accumulated expenditures for 2026 by the end of the construction period?
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