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On March 1, Brookmeadow Corp. began construction of a small building. The following expenditures were incurred for construction: Dates Expenditures Mar. 1 $ 75,000 Apr.
On March 1, Brookmeadow Corp. began construction of a small building. The following expenditures were incurred for construction:
Dates
Expenditures
Mar. 1 $ 75,000
Apr. 1 84,000
May 1 180,000
June 1 300,000
July 1 100,000
The building was completed and occupied on July 1. To help pay for construction, $ 60,000 was borrowed on March 1 on a 10%, three-year note payable. The only other debt outstanding during the year was a $ 500,000, 8% note issued two years ago.
Calc. the weighted-average accumulated expenditures
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