A ezto.mheducation.commework Chapter 10SavedHelpSaThomton Industries began construction of a warehouse on July 1, 2021, The project was completed on March 31, 2022. No new loanswere required to fund construction. Thornton does have the following two interest-bearing liabilities that were outstanding throughoutthe construction period:$3,000, 000, 10% note$7,000, 000, 6% bondsConstruction expenditures incurred were as follows:July 1, 2021September 3e, 2021November 30, 2021January 30, 2022$ 460, 000660, 000660, 000600, 000HintThe company's fiscal year-end is December 31.Required:Calculate the amount of interest capitalized for 2021 and 2022.terencesComplete this question by entering your answers in the tabs below.20212022Calculate the amount of interest capitalized for 2021. (Do not round the intermediate calculations. Round your percentage answers to 1decimal place (i.e. 0.123 should be entered as 12.3%).)DateExpenditureWeightAverageJuly 1, 2021%24460,0002/6$153,333September 30, 2021660,0003/6330,000November 30, 2021660,0001/6220,000( Prev5 of 7Next>MacBook AirS88DDFSF7F8FOF10%24&

Weighted average accumulated expenditure is the term used when company self-constructs any long-term…

Thonton Industries began construction of a warehouse on July 1, 2021. The project was completed on March 31, 2022. No new loans were required to fund construction, Thornton does have the following two interest-bearing liabilities that were outstanding throughout the construction period: 83,000,000, 10% note $7,000, e00, 6% bonds Construction expenditures incurred were as follows: July 1, 2021 September 30, 2021 November 3e, 2021 January 30, 2022 $ 460, 000 660, 000 660, 000 600, 000 The company's fiscal year-end is December 31. Required: Calculate the amount of interest capitalized for 2021 and 2022.

Thonton Industries began construction of a warehouse on July 1, 2021. The project was completed on March 31, 2022. No new loans were required to fund construction, Thornton does have the following two interest-bearing liabilities that were outstanding throughout the construction period: 83,000,000, 10% note $7,000, e00, 6% bonds Construction expenditures incurred were as follows: July 1, 2021 September 30, 2021 November 3e, 2021 January 30, 2022 $ 460, 000 660, 000 660, 000 600, 000 The company's fiscal year-end is December 31. Required: Calculate the amount of interest capitalized for 2021 and 2022.

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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Hawkins Corporation began construction of a motel on March 31, 2024. The project was completed on April 30, 2025. No new loans were required to fund construction. Hawkins does have the following two interest-bearing liabilities that were outstanding throughout the construction period: $4,600,000, 6% note $20,440,000, 10% bonds Construction expenditures incurred were as follows: March 31, 2024 $ 4,540,000 June 30, 2024 6,540,000 November 30, 2024 1,908,000 February 28, 2025 3,540,000 The company's fiscal year-end is December 31. Required: Calculate the amount of interest capitalized for 2024 and 2025.
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Klutlan Industries began construction of a warehouse on July 1, 2018. The project was completed on March 31, 2019. No new loans were required to fund construction. Klutlan does have the following two interest-bearing liabilities that were outstanding throughout the construction period: $2,000,000, 8% note $8,000,000, 5% bonds Construction expenditures incurred were as follows: July 1, 2018 $520,000 September 30, 2018 600,000 November 30, 2018 600,000 January 30, 2019 540,000 The company's fiscal year-end is December 31. Question The total value of the warehouse at the end of construction would be: a $2,288,000 b $2,317,702 c $1,745,760 d $2,260,000
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