Question
On January 1, 2021, the Shagri Company began construction on a new manufacturing facility for its own use. The building was completed in 2022. The
On January 1, 2021, the Shagri Company began construction on a new manufacturing facility for its own use. The building was completed in 2022. The only interest-bearing debt the company had outstanding during 2021 was long-term bonds of $10,900,000. The interest rate on the bonds was 7%. Construction expenditures incurred during 2021 were as follows:
| January 1 | $ | 590,000 | |
| March 1 | 654,000 | ||
| July 31 | 534,000 | ||
| September 30 | 690,000 | ||
| December 31 | 390,000 | ||
Required: Calculate the amount of interest capitalized for 2021.
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Social Media Audit And Stats Audit And Statistics For Social Media Platforms
Authors: Virtual Desk Tools
1st Edition
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