Business, 22.04.2020 00:28, meli6552

On January 1, 2021, the Shagri Company began construction on a new manufacturing facility for its own use. The building was completed in 2022. The only interest-bearing debt the company had outstanding during 2021 was long-term bonds with a book value of $11,100,000 and an interest rate of 9%. Construction expenditures incurred during 2021 were as follows:

January 1 $500,000
March 1 600,000
July 31 480,000
September 30 600,000
December 31 300,000

Required:
Calculate the amount of interest capitalized for 2016.

Answers: 2

Show answers

Other questions on the subject: Business

Business, 21.06.2019 19:20, robert7248

Anderson, a computer engineer, and spouse, who is unemployed, provide more than half of the support for their child, age 23, who is a full-time student and who earns $7,000. they also provide more than half of the support for their older child, age 33, who earns $2,000 during the year. how many dependents may the andersons claim on their joint tax return?

Answers: 3

continue

Business, 22.06.2019 09:00, jamesgraham577

Afood worker has just rinsed a dish after cleaning it. what should he do next?

Answers: 2

continue

Business, 22.06.2019 15:30, jasonoliva13

Careers in designing, planning, managing, building and maintaining the built environment can be found in the following career cluster: a. agriculture, food & natural resources b. architecture & construction c. arts, audio-video technology & communications d. business, management & administration

Answers: 2

continue

Business, 22.06.2019 21:40, brianmondesir1owahud

Rebel technology maintains its records using cash-basis accounting. during the year, the company received cash from customers, $43,000, and paid cash for salaries, $23,500. at the beginning of the year, customers owe rebel $1,000. by the end of the year, customers owe $6,600. at the beginning of the year, rebel owes salaries of $5,600. at the end of the year, rebel owes salaries of $3,300. determine cash-basis net income and accrual-basis net income for the year.

Answers: 2

continue

Do you know the correct answer?

On January 1, 2021, the Shagri Company began construction on a new manufacturing facility for its ow...