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 | $ | 316,000 | |
| September 1, 2021 | $ | 462,000 | |
| December 31, 2021 | $ | 462,000 | |
| March 31, 2022 | $ | 462,000 | |
| September 30, 2022 | $ | 316,000 | |
Dreamworld had $5,400,000 in 14% bonds outstanding through both years. What was the final cost of Dreamworld's warehouse?
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Managerial Accounting
Authors: Stacey Whitecotton, Robert Libby, Fred Phillips
3rd edition
77826485, 978-0077722074, 77722078, 978-0077826482
