Oakley Company had loans outstanding during 2018 and 2019: Specific construction loan 2,000,000 10% General loan 25,000,000

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Oakley Company had loans outstanding during 2018 and 2019:

Specific construction loan 2,000,000 10%
General loan 25,000,000 12%

The company began the self-construction of a new building on January 1, 2018 and the building was completed on December 31, 2019.

Expenditures during 2018 and 2019 were:

January 1, 2018 2,000,000
June 30, 2018 4,000,000
November 1, 2018 3,000,000
July 1, 2019 1,000,000

What is the cost of the new building on December 31, 2018?

Posted Date: Nov 18, 2021 01:30 AM

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Oakley Company had loans outstanding during 2018 and 2019: Specific construction loan 2,000,000 10% General loan 25,000,000

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Fractional Months January 1 2018 June 30 2018 2000000 1212 4000000 612 3000000 21... View the full answer

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