On January 1, 2013, Dreamworld Co. began construction of a new warehouse. The building was finished and
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| On January 1, 2013, Dreamworld Co. began construction of a new warehouse. The building was finished and ready for use on September 30, 2014. Expenditures on the project were as follows: |
| January 1,2013 | $341,000 |
| September 1,2013 | $507,000 |
| December 31,2013 | $507,000 |
| March 31,2014 | $507,000 |
| September 30,2014 | $341,000 |
| Dreamworld had $6,900,000 in 12% bonds outstanding through both years. |
| What was the final cost of Dreamworld's warehouse? |
| a) | $2,422,078. |
| b) | $1,416,200. |
| c) | $2,203,000. |
| d) | $2,434,144. |
Expert Answer:
Accumulated expenditures at 12312013 Date 112013 341000 1212 341000 912013 507000 412 1690... View the full answer
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