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Robinhood Corporation constructing a new wind power-generating facility Construction began on January 2 and was completed on December 3 of the current year Robinhood made
Robinhood Corporation constructing a new wind power-generating facility Construction began on January 2 and was completed on December 3 of the current year Robinhood made the following expendituress during the year (Cick t nditur con t December 31 each year. It earned interest income of $9,000 from investing the proceeds of the note during the year. To specifically finance the project, Robinhood issued $2,400,000 of 2-year, 10% notes payable on January 2. Interest is payable annually What amount of interest can Robinhood capilalize during the year? Let's begin by calculating the weighted average accumulated expenditures for the current year. (Do not round intermediary calculations. Only round the amount you input in the cell to the nearest dollar.) Date Weighted-Average - X (Current Year Accumulated Expenditures Expenditure Table January 2 August 1 October 1 Date Amount s 535.000 January 2 December 1 August 1 470.00D Tolal Accumulaled Expendilure October 1 1,240,000 Now, determine the amount of interest to be capitalized by Robinhood Corporation (Round your answer to the nearest whole dollar) 155,000 December 1 The interest to be capitalized is Print Done
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