SSS Total project months in 2021 Average accumulated expenditures Average accumulated expenditures 2,000,000.00 12 12 1,333,333.33...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
SSS Total project months in 2021 Average accumulated expenditures Average accumulated expenditures 2,000,000.00 12 12 1,333,333.33 12 900,000.00 12 400,000.00 4,633,333.33 DIRECTIONS On January 1, 2021, Company A began the construction o September 30, 2022. Expenditures on the project were a COMPANYA 4,633,333.33 370,666.67 January 1, 2021 March 1, 2021 Total project months in 2021 % of the year loan was applied to the project $ 2,000,000 1,600,000 9 9 Average accumulated expenditures 7,370,666.67 1,128,888.89 June 30, 2021 1,800,000 October 1, 2021 1,600,000 January 31, 2022 1,270,000 9 880,555.56 April 30, 2022 1,585,000 9 211,111.11 August 31, 2022 1,900,000 Construction loan amount $ 6,000,000 9,591,222.22 Construction loan interest rate Long-term note 8% $ 5,000,000 75% 575,473.33 Long-term note interest rate Long-term note 4% $ 7,000,000 Long-term note interest rate 6% 200,000 420,000 620,000 On January 1, 2021, the company obtained a $6 million c 2022. The company's other interest-bearing debt include 6%, respectively. Both notes were outstanding during all SSS Total project months in 2021 Average accumulated expenditures Average accumulated expenditures 2,000,000.00 12 12 1,333,333.33 12 900,000.00 12 400,000.00 4,633,333.33 DIRECTIONS On January 1, 2021, Company A began the construction o September 30, 2022. Expenditures on the project were a COMPANYA 4,633,333.33 370,666.67 January 1, 2021 March 1, 2021 Total project months in 2021 % of the year loan was applied to the project $ 2,000,000 1,600,000 9 9 Average accumulated expenditures 7,370,666.67 1,128,888.89 June 30, 2021 1,800,000 October 1, 2021 1,600,000 January 31, 2022 1,270,000 9 880,555.56 April 30, 2022 1,585,000 9 211,111.11 August 31, 2022 1,900,000 Construction loan amount $ 6,000,000 9,591,222.22 Construction loan interest rate Long-term note 8% $ 5,000,000 75% 575,473.33 Long-term note interest rate Long-term note 4% $ 7,000,000 Long-term note interest rate 6% 200,000 420,000 620,000 On January 1, 2021, the company obtained a $6 million c 2022. The company's other interest-bearing debt include 6%, respectively. Both notes were outstanding during all
Expert Answer:
Related Book For
Financial Accounting
ISBN: 978-1259307959
4th edition
Authors: David Spiceland, Wayne Thomas, Don Herrmann
Posted Date:
Students also viewed these accounting questions
-
This assignment requires you to complete the 2022 tax reporting for a fictional woman named Anna Smith. Question 1 T1 - step 4 - line 66 This is Anna's taxable income Answer: Question 2 T1 - step...
-
Use the attached "words.txt" file to store the words along with their ranks in an AVL tree. Then provide the user the option to search for any word. If the word exists the program displays the rank...
-
The $1.6 Billion Mega-millions winning lottery ticket is based upon the total amount of cash received if the annuity option is taken. The cash prize is $913,700,000 which you get immediately. The...
-
Murray Corporation began investing in trading securities in 20x8. At the end of 20x8, it had the following trading portfolio: Prepare the necessary year-end adjusting entry on December 31 and the...
-
Express each set in set-builder notation. F = {15, 16, 17, . . . , 100}
-
Defendant Monty J. Person began working for Garage Solutions, LLC, in March 2015. Three months into his employment, Person was sent by the owner of Garage Solutions, Mark Fontenot, to Rexburg, Idaho,...
-
Plum Corporation began the month of May with $ 700,000 of current assets, a current ratio of 2.50:1, and an acid-test ratio of 1.10:1. During the month, it completed the following transactions (the...
-
What other options exist if you do not want to use the relational model? Researchon the Internet and find one other type of database model, describe that model, and post the link to the source that...
-
1. What is the duration of a 12-year, 7.7% semi-annual bond if the market rate on bonds of similar quality is 7.5%? 2. Now suppose that the YTM has changed to 7.53%%. Using Macaulay duration (which...
-
A profit from an intercompany sale would result in either a higher cost of sales in the income statement or a higher inventory balance in the statement of financial position of the buying company....
-
Dividend income in the profit or loss of a parent company should be eliminated against dividend payable in the statement of financial position of a subsidiary company. True/False
-
Payables and receivables in the group statement of financial position include balances with associate companies. True/False
-
An acquirer is called a parent when it acquires the net assets rather than the equity of another entity, called the subsidiary. Is this true or false?
-
Company A is given the contractual right by billionaire Jill Gates to govern, on her behalf, the daily affairs and long-term policies of Company X, a company whose shares Ms Gates owns. Is Company X...
-
A sled starts at the top of the hill. The angle of inclination of the hill is = 30. The length of the hill is 50 m. The coefficient of friction between the sled and the surface is k = 0.3. A....
-
Read Case Study Google: Dont Be Evil Unless and answer the following: Given its mission of providing information to the world, should Google censor searches in China?
-
Financial information for American Eagle is presented in Appendix A at the end of the book, and financial information for Buckle is presented in Appendix B at the end of the book. Required: 1. Which...
-
Match (by letter) the following terms with their definitions. Each letter is used only once. Terms ______ 1 Cumulative. ______ 2 Retained earnings. ______ 3 Outstanding stock. ______ 4 Limited...
-
On January 1, 2018, White Water issues $600,000 of 7% bonds, due in 10 years, with interest payable semiannually on June 30 and December 31 each year. The market interest rate on the issue date is 6%...
-
Haydn is a postgraduate MSc Management and Entrepreneurship student and as part of his studies he needs to complete a research project. Haydn has set his sights on studying a concept called 'entre-...
-
You have decided to undertake a project and have defined the main research question as What are the opinions of consumers on a 10 per cent reduction in weight, with the price remaining the same, of...
-
What are the characteristics of access and why is it important to differentiate between them?
Study smarter with the SolutionInn App