Business, 05.02.2021 21:40 firenation18
Bagwell Furniture Company started construction of a combination office and warehouse building for its own use at an estimated cost of $2,500,000 on January 1, 2014. Bagwell expected to complete the building by December 31, 2014. Bagwell has the following debt obligations outstanding during the construction period. Construction Loan - 15% interest, payable semiannually, issued December 31, 2013: $1,000,000Short-term loan- 10% Interest, payable monthly, and principal Payable at maturity on May 30, 2015: 700,000Long-term loan - 11% interest, payable on January 1 of each year. Principal payable on January 1, 2018: $500,000a. Assume that Bagwell completed the office and warehouse building on December 31, 2014, as planned at a total cost of $2,600,000, and the weighted average of accumulated expenditures was $1,800,000. Compute the avoidable interest on this project. b. Prepare the journal entry to record the capitalization of interest and the recognition of interest expense, if any at December 31, 2014.c. Compute the depreciation expense for the year ended December 31, 2015. Bagwell elected to depreciate the building on a straight-line basis and determined that the asset has a useful life of 30 years and a salvage value of $150,000.
Answers: 2
Business, 22.06.2019 18:50, lordcaos066
Plastic and steel are substitutes in the production of body panels for certain automobiles. if the price of plastic increases, with other things remaining the same, we would expect: a) the demand curve for plastic to shift to the left. b) the price of steel to fall. c) the demand curve for steel to shift to the left d) nothing to happen to steel because it is only a substitute for plastic. e) the demand curve for steel to shift to the right
Answers: 3
Business, 22.06.2019 20:20, Carloslogrono10
Gamegirl inc., has the following transactions during august. august 6 sold 76 handheld game devices for $230 each to ds unlimited on account, terms 2/10, net 60. the cost of the 76 game devices sold, was $210 each. august 10 ds unlimited returned six game devices purchased on 6th august since they were defective. august 14 received full amount due from ds unlimited. required: prepare the transactions for gamegirl, inc., assuming the company uses a perpetual inventory syste
Answers: 2
Bagwell Furniture Company started construction of a combination office and warehouse building for it...
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