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On January 2, 2020, Sunland Company began construction of a new citrus processing plant. The automated plant was finished and ready for use on September 30, 2021. Expenditures for the construction were as follows: January 2, 2020 September 1, 2020 December 31, 2020 March 31, 2021 September 30, 2021 $597000 1804800 1804800 1804800 1201000 Sunland Company borrowed $3290000 on a construction loan at 11% interest on January 2, 2020. This loan was outstanding during the construction period. The company also had $12100000 in 8% bonds outstanding in 2020 and 2021. What were the weighted-average accumulated expenditures for 2020?

On January 2, 2020, Sunland Company began construction of a new citrus processing plant. The automated plant was finished and ready for use on September 30, 2021. Expenditures for the construction were as follows: January 2, 2020 September 1, 2020 December 31, 2020 March 31, 2021 September 30, 2021 $597000 1804800 1804800 1804800 1201000 Sunland Company borrowed $3290000 on a construction loan at 11% interest on January 2, 2020. This loan was outstanding during the construction period. The company also had $12100000 in 8% bonds outstanding in 2020 and 2021. What were the weighted-average accumulated expenditures for 2020?

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Transcribed Image Text:$1499400 $3005800 $1198600
On January 2, 2020, Sunland Company began construction of a new citrus processing plant. The automated plant was finished and ready for use on September 30, 2021. Expenditures for the construction were as follows: January 2, 2020 September 1, 2020 December 31, 2020 March 31, 2021 September 30, 2021 $597000 1804800 1804800 1804800 1201000 Sunland Company borrowed $3290000 on a construction loan at 11% interest on January 2, 2020. This loan was outstanding during the construction period. The company also had $12100000 in 8% bonds outstanding in 2020 and 2021. What were the weighted-average accumulated expenditures for 2020?
Transcribed Image Text:On January 2, 2020, Sunland Company began construction of a new citrus processing plant. The automated plant was finished and ready for use on September 30, 2021. Expenditures for the construction were as follows: January 2, 2020 September 1, 2020 December 31, 2020 March 31, 2021 September 30, 2021 $597000 1804800 1804800 1804800 1201000 Sunland Company borrowed $3290000 on a construction loan at 11% interest on January 2, 2020. This loan was outstanding during the construction period. The company also had $12100000 in 8% bonds outstanding in 2020 and 2021. What were the weighted-average accumulated expenditures for 2020?
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