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At the start of Year6 Company began construction on a new office building. . Company computed interest on weighted average construction expenditures during Year6 to
At the start of Year6 Company began construction on a new office building. . Company computed interest on weighted average construction expenditures during Year6 to be $12,000. Company had total interest costs for Year 6 of $14,000, as follows: Interest cost incurred on specific construction loans was $3,000. Interest cost incurred on non-construction related debt was $11,000. What will Company report as interest expense on the Year6 income statement? a. $2,000 b. None Oc. $12,000 O d. $3,000 Oe. $14,000
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