Business, 27.12.2020 15:20 naomiedgrey
During 2020, Karen Building Company constructed various assets at a total cost of $12,600,000. The weighted average accumulated expenditures on assets qualifying for capitalization of interest during 2020 were $8,130,000. The company had the following debt outstanding at December 31, 2020:
1. 10%, 5-year note to finance construction of various assets, dated January 1, 2020, with interest payable annually on January 1 $5,205,000
2. 12%, ten-year bonds issued at par on December 31, 2014, with interest payable annually on December 31 6,047,000
3. 9%, 3-year note payable, dated January 1, 2019, with interest payable annually on January 1 3,023,500
Compute the amounts of each of the following.
a. Avoidable interest
b. Total interest to be capitalized during 2020
Answers: 2
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During 2020, Karen Building Company constructed various assets at a total cost of $12,600,000. The w...
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