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quickly please ) 8. On March 1, 2015. BC Company purchased land for an office site by paying $540,000 cash ABC began construction on the
quickly please
) 8. On March 1, 2015. BC Company purchased land for an office site by paying $540,000 cash ABC 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, 5720,000 was bortowed 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%, 5-year note payable dated January 1 2015. The weighted average accumulated expenditures on the construction project during 2015 were 12 points) 5312.000 5596,000 S300 52.91-1000Step by Step Solution
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