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$321,000September 1, 2021$471,000December 31, 2021$471,000March 31, 2022$471,000September 30, 2022$321,000
Dreamworld had $5,700,000 in 10% bonds outstanding through both years.
Dreamworld's capitalized interest in 2021 was:
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Financial Accounting
Authors: Jan Williams, Susan Haka, Mark S Bettner, Joseph V Carcello
17th edition
978-1259692390
