Question
During 2020, Waterway Industries incurred weighted-average accumulated expenditures of $1750000 during construction of assets that qualified for capitalization of interest. The only debt outstanding during
During 2020, Waterway Industries incurred weighted-average accumulated expenditures of $1750000 during construction of assets that qualified for capitalization of interest. The only debt outstanding during 2020 was a $2020000, 12%, 5-year note payable dated January 1, 2020. What is the amount of interest that should be capitalized by Waterway during 2020?
$210000.
$32400.
$242400.
$0.
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Auditing Fundamentals In A South African Context
Authors: Gerrit Penning, Rika Butler, Pieter Von Wielligh, Frans Prinsloo
2nd Edition
0190749040, 978-0190749040
