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PLEASE HELP ASAP! NEED BY 2:15AM EST 12/09/2021 question 23 (20 points) Listen Grande Corporation hired Aspen Inc. to design and build a complete remodeling
PLEASE HELP ASAP! NEED BY 2:15AM EST 12/09/2021
question 23 (20 points) Listen Grande Corporation hired Aspen Inc. to design and build a complete remodeling of Grande's production facility. Construction began on June 1, 2021 and was completed on December 31, 2021. Grande made the following payments to Aspen, Inc. during 2021: Date Payment June 1, 2021 $2,500,000 August 31, 2021 3,200,000 December 31, 2021 2,000,000 In order to help finance the construction, Grande issued the following during 2021: 1. $1,700,000 of 10-year, 9% bonds payable, issued at par on May 31, 2021, with interest payable annually on May 31. 2. 250,000 shares of no-par common stock, issued at $10 per share on October 1, 2021 In addition to the 9% bonds payable, the only debt outstanding during 2020 was a $425,000, 12% note payable dated January 1, 2017 and due January 1, 2027, with interest payable annually on January 1. Instructions Compute the amounts of each of the following (show computations). You may type your answers in the text submission box below or you can use the "Add File" button to upload a picture of your handwritten work or an Excel file. If this option does not work, you may email your work to me at emoney@dtcc.edu. 1. Weighted-average accumulated expenditures qualifying for capitalization of interest cost. 2. Avoidable interest incurred during 2021. 3. Total amount of interest cost to be capitalized during 2021
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