Answered step by step
Verified Expert Solution
Link Copied!

Question

00
1 Approved Answer

I just need the ones in Red!!! Thank you so much On July 31, 2025, Windsor Company engaged Minsk Tooling Company to construct a special-purpose

image text in transcribedimage text in transcribedI just need the ones in Red!!! Thank you so much

On July 31, 2025, Windsor Company engaged Minsk Tooling Company to construct a special-purpose piece of factory machinery. Construction began immediately and was completed on November 1,2025 . To help finance construction, on July 31 Windsor issued a $282,000, 3-year, 12% note payable at Netherlands National Bank, on which interest is payable each July 31 . $177,000 of the proceeds of the note was paid to Minsk on July 31. The remainder of the proceeds was temporarily invested in short-term marketable securities (trading securities) at 10% until November 1. On November 1 , Windsor made a final $105,000 payment to Minsk. Other than the note to Netherlands, Windsor's only outstanding liability at December 31,2025 , is a $28,900,8%, 6-year note payable, dated January 1,2022 , on which interest is payable each December 31. (a) Calculate weighted-average accumulated expenditures, avoidable interest, and total interest cost to be capitalized during 2025. Weighted-average accumulated expenditures $ Avoidable interest $ Interest capitalized $ Prepare the journal entries needed on the books of Windsor Company at each of the following dates. (Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. List all debit entries before credit entries.) 1. July 31,2025. 2. November 1,2025. 3. December 31,2025

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions

Question

Where do I give in to my bad habit?

Answered: 1 week ago