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Amount of interest for 2024 is correct at 611055, please help calculate the 2025 amount of interest with detailed explanation. Hawkins Corporation began construction of
Amount of interest for 2024 is correct at 611055, please help calculate the 2025 amount of interest with detailed explanation.
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: $4,400,000,6% note $18,960,000,10% bonds Construction expenditures incurred were as follows: The company's fiscal year-end is December 31. Required: Calculate the amount of interest capitalized for 2024 and 2025. Note: Round weighted average interest rate to 2 decimal places and final answers to the nearest whole dollarStep by Step Solution
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