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:
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| January 1, 2018 | $ | 321,000 |
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| September 1, 2018 | $ | 471,000 |
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| December 31, 2018 | $ | 471,000 |
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| March 31, 2019 | $ | 471,000 |
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| September 30, 2019 | $ | 321,000 |
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Dreamworld had $5,700,000 in 10% bonds outstanding through both years. Dreamworld's capitalized interest in 2018 was:
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Accounting Information Systems
Authors: Marshall B. Romney
8th Edition
0201357216, 9780201357219
