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I need help solvin this ais problem set Early in 2015, Tian Tian Corporation engaged Creative Constriction, Ltd. to design and construct a complete modernization
I need help solvin this ais problem set Early in 2015, Tian Tian Corporation engaged Creative Constriction, Ltd. to design and construct a complete modernization of Tian Tian's manufacturing facility. Construction was begun on January 1, 2015 and was completed on December 31, 2015. Tian Tian made the following payments to Creative Construction, Inc. during 2015: In order to help finance the construction, Tian Tian issued the following during 2015: A $5,000,000. 10-year, 9% note payable, issued January 1, 2015, with interest payable annually on December 31. In addition to the 9% note payable, the following debt is outstanding during 2014: A $ 1, 250,000, 12% note payable dated January 1, 2010 and due January 1, 2020, with interest payable annually on Dec. 31. A $7, 500,000 7% set of bonds payable dated January 1, 2006 due January 1, 2026, with interest payable annually on Dec. 31. Compute the amounts of each of the following (show computations for partial credit): Weighted-average accumulated expenditures qualifying for capitalization of interest cost. Avoidable interest incurred during 2015. Total amount of interest cost to be capitalized during 2015 and the relevant journal entry
I need help solvin this ais problem set
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