On december 31, 2019, main inc. borrowed $3,000,000 at 12% payable annually to finance the construction of a new building. in 2020, the company made the following expenditures related to this building: march 1, $360,000; june 1, $600,000; july 1, $1,500,000; december 1, $1,500,000. the building was completed in february 2021. additional information is provided as follows.
1. other debt outstanding
10-year, 13% bond, december 31, 2013, interest payable annually $4,000,000
6-year, 10% note, dated december 31, 2017, interest payable annually $1,600,000
2. march 1, 2020, expenditure included land costs of $150,000
3. interest revenue earned in 2020 $49,000
determine the amount of interest to be capitalized in 2020 in relation to the construction of the building.
prepare the journal entry to record the capitalization of interest and the recognition of interest expense, if any, at december 31, 2020.
Answers: 1
Business, 21.06.2019 21:00, CadenSkinner2003
The table shows the demand and supply schedules for magazines. complete the following sentences. the equilibrium price of a magazine is $ 4 and the equilibrium quantity is 150 magazines a week. price (dollars per magazine) quantity demanded quantity supplied (magazines per week) 3.00 160 138 3.50 155 144 4.00 150 150 4.50 145 156 5.00 140 161 now a fall in the price of a newspaper decreases the quantity demanded by 11 magazines a week at each price. at the original equilibrium price, a occurs. to return to equilibrium, the price of a magazine a. surplus; rises b. shortage; rises c. shortage; falls d. surplus; falls as the market returns to equilibrium, the quantity demanded and the quantity supplied a. decreases; increases b. decreases; decreases c. increases; decreases d. increases; increases the new equilibrium price is $ nothing a magazine.
Answers: 1
Business, 23.06.2019 02:10, musicfrk2207
Which of the following best describes what production accomplishes? a. efficient use of natural resources. b. a reduction in the size of the labor force. c. an increase in supply that lowers prices. d. value added to resources that already exist.
Answers: 1
Business, 23.06.2019 02:30, mcalepcrager
Robert just found out that he is going to be unemployed within a month because his factory has invested in a robotic factory line and his skills are no longer needed. this means that robert is . the gdp within country d has begun to decline. as a result of decreased production, thomas lost his job designing cars. this means that thomas is . raquel has just been offered a job, but she has decided not to take it because she feels her skills merit better pay and a better position. this means that raquel is .
Answers: 1
On december 31, 2019, main inc. borrowed $3,000,000 at 12% payable annually to finance the construct...
History, 25.08.2021 01:20
Mathematics, 25.08.2021 01:20
History, 25.08.2021 01:20
Mathematics, 25.08.2021 01:20
Computers and Technology, 25.08.2021 01:20