was finished late in 2020 were incurred evenly during the a cost of P30,000,000. The expenditures for the building which During 2020, Elijah Company constructed a new building at 2. What is the interest expense for 2020? yеar. The entity had the following loans outstanding on December 31, 2020: 10% note to finance specifically the construction, dated January 1, 2020, P10,000,000. The note is unpaid on December 31, 2020, Investments were made on the proceeds from the loan and income of P100,000 was realized in 2020. • 12% 10-year bonds issued at face amount on April 30, 2019, P30,000,000. 8% 5-year note payable, dated March 1, 2019, P10,000,000. 1. What is the capitalizable borrowing cost? a. 1,550,000 b. 1,450,000 c. 1,400,000 d. 1,500,000 a. 4,400,000 b. 2,850,000 c. 3,850,000 d. 2,950,000

was finished late in 2020 were incurred evenly during the a cost of P30,000,000. The expenditures for the building which During 2020, Elijah Company constructed a new building at 2. What is the interest expense for 2020? yеar. The entity had the following loans outstanding on December 31, 2020: 10% note to finance specifically the construction, dated January 1, 2020, P10,000,000. The note is unpaid on December 31, 2020, Investments were made on the proceeds from the loan and income of P100,000 was realized in 2020. • 12% 10-year bonds issued at face amount on April 30, 2019, P30,000,000. 8% 5-year note payable, dated March 1, 2019, P10,000,000. 1. What is the capitalizable borrowing cost? a. 1,550,000 b. 1,450,000 c. 1,400,000 d. 1,500,000 a. 4,400,000 b. 2,850,000 c. 3,850,000 d. 2,950,000

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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Consolidation

Consolidation in general examination implies an asset oscillating between well-defined methods of trading status. Consolidation is commonly known as market indecisiveness, which completes when the asset's values move forward or backward the trading structure.

Question

2. What is the interest expense for 2020?
a cost of P30,000,000. The expenditures for the building which
was finished late in 2020 were incurred evenly during the
During 2020, Elijah Company constructed a new building at
The entity had the following loans outstanding on December
a co inished late in 2020 were incurred evenly during the
уеar.
mhe entity had the following loans outstanding on December
31, 2020:
10% note to finance specifically the construction, dated
January 1, 2020, P10,000,000. The note is unpaid on
December 31, 2020,
Investments were made on the proceeds from the loan
and income of P100,000 was realized in 2020.
· 12% 10-year bonds issued at face amount on April 30,
2019, Р30,000,000.
8% 5-year note payable, dated March 1, 2019, P10,000,000.
1. What is the capitalizable borrowing cost?
a. 1,550,000
b. 1,450,000
c. 1,400,000
d. 1,500,000
a. 4,400,000
b. 2,850,000
c. 3,850,000
d. 2,950,000
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