Problem 25-4 (IAA) Molave Company had the following outstanding loans during 2020 and 2021. Specific construction loan General loan 3,000,000 25,000,000 10% 12% The entity began the self-construction of a new building on January 1, 209 and the building was completed on June 30, 2021. The following expenditures were made: 4,000,000 5,000,000 3,000,000 6,000,000 January 1, 2020 1, 2020 December 1, 2020 1, 2021 April March Required: 1. Compute the cost of the new building on December 31, 2020 and June 30, 2021. . Compute the interest.expense for 2020 and 2021.

Problem 25-4 (IAA) Molave Company had the following outstanding loans during 2020 and 2021. Specific construction loan General loan 3,000,000 25,000,000 10% 12% The entity began the self-construction of a new building on January 1, 209 and the building was completed on June 30, 2021. The following expenditures were made: 4,000,000 5,000,000 3,000,000 6,000,000 January 1, 2020 1, 2020 December 1, 2020 1, 2021 April March Required: 1. Compute the cost of the new building on December 31, 2020 and June 30, 2021. . Compute the interest.expense for 2020 and 2021.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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