Question: ABC began constructing a building for its own use at the beginning of the year. During the year ABC incurred interest of $14034 on specific

ABC began constructing a building for its own use at the beginning of the year. During the year ABC incurred interest of $14034 on specific construction debt, and $86735 on other borrowings. Interest computed on the weighted-average amount of accumulated expenditures for the building during the year was $91035. The amount of interest ABC should capitalize is:

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

ABC purchased a machine that has an estimated useful life of 5 years for $4880 The machine's salvage value is estimated to be $469 ABC uses the straight-line depreciation method The depreciation for...

1. ABC exchanged cash of $17 and a machine with a carrying value of $1897 and a fair value of $3739 for a machine. The exchange has commercial substance. At what amount should ABC record the machine...

ABC began constructing a building for its own use at the beginning of the year. During the year ABC incurred interest of $16823 on specific construction debt, and $48933 on other borrowings. Interest...

red ABC began constructing a building for its own use at the beginning of the year. During the year ABC incurred interest of $39967 on specific construction debt, and $83336 on other borrowings....

Posner Inc. began constructing a building for its own use in January of Year 4. During Year 4, Posner incurred interest of $62,000 on specific construction debt related to this building and $22,000...

Boz Co . began constructing a building for its own use in January. During the year, Boz Co . incurred interest of $ 6 0 , 0 0 0 on specific construction debt and $ 3 0 , 0 0 0 on other borrowings....

Harbor Co. began constructing a building for its own use in January of the current year. During the current year, Harbor incurred interest of $45,000 on specific construction debt, and $50,000 on...

[2] Harbor Co. began constructing a building for its own use in January of the current year During the current year, Harbor incurred interest of $100,000 on specific construction debt and $40,000 on...

Harbor Co. began constructing a building for its own use in January of the current year. During the current year, Harbor incurred interest of $40,000 on specific construction debt, and $20,000 on...

Each of the following is a much weaker base than aniline. Present a resonance argument to explain the effect of the substituent in each case. (a) (b) p-Aminoacetophenone 1 CGHsNHCCH3

Refer to Problems 14 and 15. a. Take half the length of the confidence interval found in Problem 15(a) to obtain the margin of error for the estimate of the difference between the two population...

The return on Visa stock has a standard deviation of 3 3 % and the return on Walmart stock has a standard deviation of 1 7 % . Their correlation is 0 . 5 7 . If you invest 3 0 % in Visa and 7 0 % in...

the global trend in several developed countries knowledge economy moves would tremendously the unit cost of the product worldwide

=+Decide what kind of programs or channels the spot would air. Are these skewed more to female or male viewers?

=+Think about the audience. See them three-dimensionally, as real people, not a list of statistical data. Which VALS category or categories would they fit into?

=+Watch the Smirnoff spoof on Hip Hop culture, Tea Partay, http://www.youtube.com/watch?v5PTU2He2BIc0. Why did this work? Why was it not offensive. Hint: Who does the spot mock?