Question
On January 1, 2021, Dreamworld Co. began construction of a new warehouse. The building was finished and ready for use on September 30, 2022. Expenditures
On January 1, 2021, Dreamworld Co. began construction of a new warehouse. The building was finished and ready for use on September 30, 2022. Expenditures on the project were as follows:
| January 1, 2021 | $ | 326,000 | |
| September 1, 2021 | $ | 477,000 | |
| December 31, 2021 | $ | 477,000 | |
| March 31, 2022 | $ | 477,000 | |
| September 30, 2022 | $ | 326,000 | |
Dreamworld had $5,900,000 in 12% bonds outstanding through both years. What was the final cost of Dreamworld's warehouse?
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ACCA Financial Accounting Study Text 2020 21
Authors: Emile Woolf International
1st Edition
1848439210, 978-1848439214
