Business, 14.04.2020 23:46 keidyhernandezm
On January 2, 2020, Sheffield Corp. began construction of a new citrus processing plant. The automated plant was finished and ready for use on September 30, 2021. Expenditures for the construction were as follows:
January 2, 2020 $ 600,000
September 1, 2020 1,800,000
December 31, 2020 1,800,000
March 31, 2021 1,800,000
September 30, 2021 1,200,000
Indian River Groves borrowed $3,300,000 on a construction loan at 12% interest on January 2, 2020. This loan was outstanding during the construction period. The company also had $12,000,000 in 9% bonds outstanding in 2020 and 2021.
1. What were the weighted-average accumulated expenditures for 2020?
a. $1,600,000
b. $1,500,000
c. $1,200,000
d. $3,000,000
2. The interest capitalized for 2020 was:
a. $540,000
b. $144,000
c. $456,000
d. $180,000
3. What were the weighted-average accumulated expenditures for 2021 by the end of the construction period?
a. $1,170,000
b. $4,905,000
c. $5,958,000
d. $4,158,000
4. The interest capitalized for 2021 was:
a. $374,220
b. $354,915
c. $ 77,220
d. $297,000
Answers: 1
Business, 21.06.2019 19:30
What is the most important factor that affects the value of a company? a) cash flow b) earnings c) supply and demand d) number of employees
Answers: 1
Business, 22.06.2019 07:30
Jewelry manufacturers produce a range of products such as rings, necklaces, bracelets, and brooches. what fundamental economic question are they addressing by offering this range of items?
Answers: 3
Business, 23.06.2019 00:00
What is a sales lead? a. an employee on the customer service team who deals with existing customers b. a sales person who works on a residual commission structure c. an expert in maslow's hierarchy of needs d. a potential customer who has shown interest in the company's product
Answers: 1
Business, 23.06.2019 20:00
What effects does this journal entry have on the accounts? decrease cash and increase land decrease cash and decrease land increase cash and increase land increase cash and decrease land?
Answers: 1
On January 2, 2020, Sheffield Corp. began construction of a new citrus processing plant. The automat...
Biology, 13.11.2020 18:50
Physics, 13.11.2020 18:50
Geography, 13.11.2020 18:50
Mathematics, 13.11.2020 18:50
English, 13.11.2020 18:50
History, 13.11.2020 18:50
Mathematics, 13.11.2020 18:50
Health, 13.11.2020 18:50
Mathematics, 13.11.2020 18:50
History, 13.11.2020 18:50