Question
On March 1, Sunland Co. began construction of a small building. The following expenditures were incurred for construction: March 1 $282,000 April 1 289,200 May
On March 1, Sunland Co. began construction of a small building. The following expenditures were incurred for construction:
March 1 $282,000
April 1 289,200
May 1 673,200
June 1 1,040,400
July 1 367,000
The building was completed and occupied on July 1. To help pay for construction $212,000 was borrowed on March 1 on a 12%, three-year note payable. The only other debt outstanding during the year was a $2,031,000, 10% note issued two years ago.
(a) Calculate the weighted-average accumulated expenditures.
The weighted-average accumulated expenditures $365200
(b) Calculate avoidable interest. Avoidable interest $enter the avoidable interest in dollars
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Modeling And Designing Accounting Systems Using Access To Build A Database
Authors: Laura R. Ingraham, C. Janie Chang
1st Edition
0471450871, 978-0471450870
