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On January 1, 2016, Dreamworld Co. began construction of a new warehouse. The building was finished and ready for use on September 30, 2017. Expenditures
On January 1, 2016, Dreamworld Co. began construction of a new warehouse. The building was finished and ready for use on September 30, 2017. Expenditures on the project were as follows:
January 1, 2016 $328,000
September 1, 2016 $486,000
December 31, 2016 $486,000
March 31, 2017 $486,000
September 30, 2017 $328,000
Dreamworld had $6,200,000 in 12% bonds outstanding through both years.
What was the final cost of Dreamworld's warehouse?
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