Testbaik PTODiem 139 X Your answer is incorrect. Try again. During 2020, Maria Building Company constructed various assets at a total cost of $12,600,000. The weighted average accumulated expenditures on assets qualifying for capitalization of interest during 2020 were $8,347,000. The company had the following debt outstanding at December 31, 2020: 1. 10%, 5-year note to finance construction of various assets, dated January 1, 2020, with interest payable annually on January 1 2. 12%, ten-year bonds issued at par on December 31, 2014, with interest payable annually on December 31 3. 9%, 3-year note payable, dated January 1, 2019, with interest payable annually on January 1 $5,388,000 5,811,000 2,905,500 Compute the amounts of each of the following. 1. Avoidable interest 858,405 2. Total interest to be capitalized during 2020 639,210 Click if you would like to Show Work for this question: Open Show Work

Testbaik PTODiem 139 X Your answer is incorrect. Try again. During 2020, Maria Building Company constructed various assets at a total cost of $12,600,000. The weighted average accumulated expenditures on assets qualifying for capitalization of interest during 2020 were $8,347,000. The company had the following debt outstanding at December 31, 2020: 1. 10%, 5-year note to finance construction of various assets, dated January 1, 2020, with interest payable annually on January 1 2. 12%, ten-year bonds issued at par on December 31, 2014, with interest payable annually on December 31 3. 9%, 3-year note payable, dated January 1, 2019, with interest payable annually on January 1 $5,388,000 5,811,000 2,905,500 Compute the amounts of each of the following. 1. Avoidable interest 858,405 2. Total interest to be capitalized during 2020 639,210 Click if you would like to Show Work for this question: Open Show Work

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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