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 | $ | 336,000 | |
| September 1, 2018 | $ | 504,000 | |
| December 31, 2018 | $ | 504,000 | |
| March 31, 2019 | $ | 504,000 | |
| September 30, 2019 | $ | 336,000 | |
Dreamworld had $6,800,000 in 10% bonds outstanding through both years. What was the final cost of Dreamworld's warehouse?
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Intermediate Accounting Volume 2
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield, Irene M. Wiecek, Bruce J. McConomy
13th Canadian Edition
1119740444, 9781119740445
