Question: URGENT !!!! PLEASE ANSWER ASAPP !!!!!!!!! On 1 April 2020 ABC Company applied loan 10 million loan for construction new garage from Public Bank at

URGENT !!!! PLEASE ANSWER ASAPP !!!!!!!!! On 1 April 2020 ABC

URGENT !!!! PLEASE ANSWER ASAPP !!!!!!!!!

On 1 April 2020 ABC Company applied loan 10 million loan for construction new garage from Public Bank at 3%. Bank approved loan on 1 May 2020. The project starts on 1 June 2020. However, during the Movement Control Order due to pandemic Covid- 19, the project was temporarily suspended from August to December 2020. On 1 Jan 2021 the project continued. New garage will operate on 30 November 2021, however minor modification of the garage needed to be done until end of 31 December 2021. Based on situation given: (b) i. discuss commencement, suspension and cessation date of capitalization. [5 marks] ii. analyse the interest that will be capitalised and expensed off on 31 December 2020. [5 marks)

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