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 | $ | 328,000 | |
| September 1, 2018 | $ | 486,000 | |
| December 31, 2018 | $ | 486,000 | |
| March 31, 2019 | $ | 486,000 | |
| September 30, 2019 | $ | 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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Intermediate Accounting
Authors: J. David Spiceland, James Sepe, Mark Nelson, Wayne Thomas
9th Edition
125972266X, 9781259722660
