Question
On January 1, 2018, Dreamworld Co. began construction of a new warehouse. The building was finished and ready for use on September 30, 2019. Expenditures
On January 1, 2018, Dreamworld Co. began construction of a new warehouse. The building was finished and ready for use on September 30, 2019. Expenditures on the project were as follows:
| January 1, 2018 | $ | 311,000 | |
| September 1, 2018 | $ | 453,000 | |
| December 31, 2018 | $ | 453,000 | |
| March 31, 2019 | $ | 453,000 | |
| September 30, 2019 | $ | 311,000 | |
Dreamworld had $5,100,000 in 10% bonds outstanding through both years. Dreamworld's average accumulated expenditures for 2018 was:
Multiple Choice
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$622,000.
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$539,750.
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$462,000.
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$311,000.
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Financial Reporting The Theoretical And Regulatory Framework
Authors: D A V I D Alexander
2nd Edition
0412357909, 978-0412357909
