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 | $ | 327,000 | |
| September 1, 2018 | $ | 489,000 | |
| December 31, 2018 | $ | 489,000 | |
| March 31, 2019 | $ | 489,000 | |
| September 30, 2019 | $ | 327,000 | |
Dreamworld had $6,300,000 in 10% bonds outstanding through both years. Dreamworld's average accumulated expenditures for 2018 was:
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Auditing An International Approach
Authors: Wally J. Smieliauskas, Kathryn Bewley
6th edition
978-0070968295, 9781259087462, 978-0071051415
