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. Dreamworld's capitalized interest in 2018 was:
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Survey of Accounting
Authors: Carl S Warren
5th Edition
9780538489737, 538749091, 538489731, 978-0538749091
