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On March 1, 2015, Newton Company purchased land for an office site by paying $540,000 cash. Newton began construction on the office building on March

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On March 1, 2015, Newton Company purchased land for an office site by paying $540,000 cash. Newton began construction on the office building on March 1. The following expenditures were incurred for construction: Date Expenditures March 1, 2015 $360,000 April 1, 2015 504,000 May 1, 2015 900,000 June 1, 2015 1,440,000 a. The office was completed and ready for occupancy on July 1. To help pay for construction, $720,000 was borrowed on March 1, 2015 on a 9%, 3-year note payable. Other than the construction note, the only debt outstanding during 2015 was a $300,000, 12%, 6-year note payable dated January 1, 2015. 90. The weighted average accumulated expenditures on the construction project during 2015 were $384.000 b. $2,934,000 $312,000. d. $696,000. 91. The actual interest cost incurred during 2015 was $90,000. $100,800 $50,400 S84,000. c. a. b. c. d. Assume a. b. c. d. 92 the weighted average accumulated expenditures for the construction project are $870,000. The amount of interest cost to be capitalized during 2015 is $41,400. $27,600. $90,000 $100,800 On March 1, 2015, Newton Company purchased land for an office site by paying $540,000 cash. Newton began construction on the office building on March 1. The following expenditures were incurred for construction: Date Expenditures March 1, 2015 $360,000 April 1, 2015 504,000 May 1, 2015 900,000 June 1, 2015 1,440,000 The office was completed and ready for occupancy on July 1. To help pay for construction, $720,000 was borrowed on March 1, 2015 on a 9%, 3-year note payable. Other than the construction note, the only debt outstanding during 2015 was a $300,000, 12%, 6-year note payable dated January 1, 2015. 90. The weighted average accumulated expenditures on the construction project during 2015 were $384,000. b. $2,934,000 $312,000. d. $696,000 a. c. 91. a. b. c. d. The actual interest cost incurred during 2015 was $90,000. $100,800 $50,400. S84,000. Assume a. b. c. d. 92 the weighted average accumulated expenditures for the construction project are $870,000. The amount of interest cost to be capitalized during 2015 is $41,400. $27,600. $90,000 $100,800

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