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On January 2, 2025, Indian River Groves began construction of a new citrus processing plant. The automated plant was finished and ready for use
On January 2, 2025, Indian River Groves began construction of a new citrus processing plant. The automated plant was finished and ready for use on September 30, 2026. Expenditures for the construction were as follows: January 2, 2025 $ 600000 September 1, 2025 1800000 December 31, 2025 1800000 March 31, 2026 1800000 September 30, 2026 1200000 Indian River Groves borrowed $3300000 on a construction loan at 12% interest on January 2, 2025. This loan was outstanding during the construction period. The company also had $12000000 in 9% bonds outstanding in 2025 and 2026. The interest capitalized for 2026 was: $391500 $270000 $94500 $297000
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Accounting
Authors: Carl s. warren, James m. reeve, Philip e. fess
21st Edition
978-0324400205, 324225016, 324188005, 324400209, 9780324225013, 978-0324188004
