During 2020, Hani Company incurred average accumulated expenditures of $1,000,000 during the construction of assets that qualified for capitalization of interest. The only debt outstanding during 2020 was a $600,000, 4%, 4-year note payable dated July 1, 2019. What is the amount of interest that should be capitalized by Hani during 2020? $36,000. $40,000. $12,000 $24,000 1134 AM 37°C Haze A Ga 40 8/28/2021 - here to search o O O C

On May 1, 2020, Vaughn Manufacturing began construction of a building. Expenditures of $620400 were incurred monthly for 5 months beginning on May 1. The building was completed and ready for occupancy on September 1, 2020. For the purpose of determining the amount of interest cost to be capitalized, the weighted-average accumulated expenditures on the building during 2020 were O $2481600. O $3102000. O $517000. O $620400.

Net income $70,000, tax rate 25%, and loss from discontinued operations net of tax $5,000. Compute the income before income tax. Your answer This is a required question During 2021, Kamal Co. incurred average accumulated expenditures of $400,000 during construction of assets that qualified for capitalization of interest. The company has two debts outstanding during 2021. the first is a $500,000, 10%, 5- year note payable dated January 1, 2019. the second is a specific construction debt of $300,000, 8%, 3-year note payable dated September 1, 2020. 1- compute the amount of actual interest during 2021. 2- compute the amount of avoidable interest during 2021. Your answer This is a required question