Kingbird Industries Inc. started construction of a manufacturing facility for its own use at an estimated...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Kingbird Industries Inc. started construction of a manufacturing facility for its own use at an estimated cost of $9.600.000 on January 1. 2017. Kingbird expected to complete the building by December 31, 2017. Kingbird's debt, al of which was outstanding curing the construction period, was as follows. Construction loan-11% interest, payable semiannually, issued December 31, 2016, $4,800.000 Long-term loan #1- 10% interest, payable on January 1 of each year. Principal payable on January 1,2019 $1,440,000 Long-term loan #2-12% interest, payable on December 31 of each year. Principal payable on December 31, 2025 $3,360,000 Kingbird Industries Inc. started construction of a manufacturing facility for its own use at an estimated cost of $9.600.000 on January 1. 2017. Kingbird expected to complete the building by December 31, 2017. Kingbird's debt, al of which was outstanding curing the construction period, was as follows. Construction loan-11% interest, payable semiannually, issued December 31, 2016, $4,800.000 Long-term loan #1- 10% interest, payable on January 1 of each year. Principal payable on January 1,2019 $1,440,000 Long-term loan #2-12% interest, payable on December 31 of each year. Principal payable on December 31, 2025 $3,360,000
Expert Answer:
Answer rating: 100% (QA)
Given Data Weighted average amount of accumulated Expenditu... View the full answer
Related Book For
Thermodynamics An Engineering Approach
ISBN: 978-0073398174
8th edition
Authors: Yunus A. Cengel, Michael A. Boles
Posted Date:
Students also viewed these accounting questions
-
2x 8. Solve the initial value problem y' - (22) y = 0, y(0) = 3
-
Practice making a phylogenetic tree with morphological characters some more. The various species and their characteristics are listed below. Please list each step of the phylogenetic tree creation...
-
Evaluate the following integrals -1 (a) [ 3t sin(2t ) dt, (b) J 1+2x 2 (0)/2 + (0) /oot (9) du, co d u - 5u+6 dx
-
For the following situations, comment on whether inspection by variables or by attributes might be more appropriate: a. Filling packaged food containers to the proper weight. b. Inspecting for...
-
Pelican Systems Inc. (PSI), a public company, develops and manufactures equipment that is sold to technology, communications, and airline enterprises, and designs and installs customized information...
-
During the expansion process at a crank angle = 400, the temperature and pressure in the cylinder of a spark-ignition engine are 2400 K and 1.8 MPa, respectively. (Note: Top center is 360.) The...
-
The average time that Americans commute to work is 27.7 minutes (Sterlings Best Places). The average commute times in minutes for 48 cities follows. a. What is the mean commute time for these 48...
-
Transmissions are delivered to the fabrication line four at a time. It takes one hour for transmissions to be delivered. Approximately four vehicles are produced each hour, and management has decided...
-
The Oldham family have three sons, two of whom have been diagnosed with autism. Both sons have benefited from home-based, one-on-one Applied Behavior Analysis Therapy (ABA). The therapy costs $7000 a...
-
Berkshire Controllers usually finances its engineering projects with a combination of debt and equity capital. The resulting MARR ranges from a low of 4% per year, if business is slow, to a high of...
-
The following diagram shows the topology of a corporate network consisting of three buildings. Each building contains a number of PCs and a switched LAN. Two buildings are connected to a core router,...
-
This case is in continuation of the Mini Case 2.2 of Chapter 2. It included 10 companies listed on the Bombay Stock Exchange from different sectors Aditya Birla Nuvo; Chowgule Steamships; Educomp...
-
In Problem 10.39, what percent reduction in the line current and total voltamperes is achieved in part (a)? What further reduction is achieved in part (b)? Data from problem 10.39 A 4500-VA load at...
-
Complete the implementation of the Skip List-based dictionary begun in Section 16.3.1. Section 16.3.1: 16.3.1 Skip Lists Skip Lists are designed to overcome a basic limitation of array-based and...
-
Refer to the matrix game: Solve the matrix game M using linear programming and a geometric approach. M = -2 0 -1
-
In Example 2.1, if the null hypothesis is true, \(F_{X}=F_{0}\). Thus, \(\mathcal{E}(X, Y)=2 E|X-Y|-E\left|X-X^{\prime}ight|-E\left|Y-Y^{\prime}ight|=0\). Show that for the \(U\)-statistic,...
-
A contractor is considering the following three alternatives: a. Purchase a new computer system for $15,000. The systems is expected to last 6 years with a salvage value of $1,000. b. Lease a new...
-
Tanaka Company's cost and production data for two recent months included the following: March April Production (units).........300................600 Rent.....................$1,800............$1,800...
-
An ideal Rankine steam cycle modified with two closed feedwater heaters is shown below. The power cycle receives 75 kg/s of steam at the high pressure inlet to the turbine. The feedwater heater exit...
-
In a combustion chamber, ethane (C2H6) is burned at a rate of 8 kg/h with air that enters the combustion chamber at a rate of 176 kg/h. Determine the percentage of excess air used during this process.
-
At winter design conditions, a house is projected to lose heat at a rate of 60,000 Btu/h. The internal heat gain from people, lights, and appliances is estimated to be 6000 Btu/h. If this house is to...
-
Electricity bills amounting to 4,500 were paid by Edinburgh Ltd during the year ended 31 December 20X7. All of these bills relate to the year ended 31 December 20X7. A bill of :1,500 was received in...
-
The following is the trial balance of Cadiz Ltd as at 31 December. You also know that the inventory at 31 December is 380,000. You are required to: prepare an income statement for the year ended 31...
-
Hobart Co. purchases a truck on 1 July 20X7 for 200,000. The truck should last for five years and then could be sold for 40,000. The financial statements are made up to the year ended 31 December,...
Study smarter with the SolutionInn App