Question: The weighted average accumulated expenditures on assets qualifying for capitalization of interest during 2023 were $5,600,000. The company had the following debt outstanding at December
The weighted average accumulated expenditures on assets qualifying for capitalization of interest during 2023 were $5,600,000. The company had the following debt outstanding at December 31 , x? a. 10%,5-year note to finance construction of various assets, dated lanuary 1,2023 , with interest payable annually on January 1 $3,600,000 b. 12%, ten year bonds issued at par on December 31, 2018, with interest 4,000,000 c. 9%,3 year note payable, dated January 1, 2022, with interest payable annually on January 1 2,000,000 Instructions: Compute the following amounts: [1] Actual interest during 2023. [2] Avoidable interest on construction. [3] Total interest to be capitalized during 2023
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