Required: Calculate the amount of interest capitalized for the year 2018. On January 1, 2018, the Shagri
Fantastic news! We've Found the answer you've been seeking!
Question:
Required:
Calculate the amount of interest capitalized for the year 2018.
On January 1, 2018, the Shagri Company broke ground on a new manufacturing facility for its own use. The building was completed in 2019. The only interest-bearing debt the company had outstanding during 2018 were long-term bonds with a book value of $11,700,000 and an effective interest rate of 8%. Construction expenses incurred during 2018 were as follows:
January 1st | ps | 670.000 | |
march 1 | 702,000 | ||
July 31st | 582,000 | ||
September 30th | 770.000 | ||
December 31 | 470.000 | ||
|
Related Book For
Intermediate Accounting
ISBN: 9781259722660
9th Edition
Authors: J. David Spiceland, James Sepe, Mark Nelson, Wayne Thomas
Posted Date: