Splish Company is constructing a building. Construction began on February 1 and was completed on December 31. Expenditures were $2,076,000 on March 1, $1,224,000 on June 1, and $3,001,740 on December 31. Compute Splish's weighted-average accumulated expenditures for interest capitalization purposes. Weighted-average accumulated expenditures $ 1791200
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- Marin Company is constructing a building. Construction began on February 1 and was completed on December 31. Expenditures were $1,800,000 on March 1, $1,200,000 on June 1, and $3,010,680 on December 31. Compute Marin's weighted-average accumulated expenditures for interest capitalization purposes. Weighted-Average Accumulated Expenditures $4 eTextbook and MediaMetlock Company is constructing a building. Construction began on February 1 and was completed on December 31. Expenditures were $1,908,000 on March 1, $1,308,000 on June 1, and $3,015,990 on December 31. Compute Metlock's weighted-average accumulated expenditures for interest capitalization purposes. Weighted-average accumulated expenditures $Ayayai Company is constructing a building. Construction began on February 1 and was completed on December 31. Expenditures were $1,956,000 on March 1, $1,236,000 on June 1, and $3,077,810 on December 31. Compute Ayayai's weighted-average accumulated expenditures for interest capitalization purposes. Weighted-Average Accumulated Expenditures 24
- Bonita Company is constructing a building. Construction began on February 1 and was completed on December 31. Expenditures were $1,896,000 on March 1, $1,296,000 on June 1, and $3,041,880 on December 31. Compute Bonita's weighted-average accumulated expenditures for interest capitalization purposes. Weighted-average accumulated expenditures $answer in text form please (without image), Note: .Every entry should have narration please Computing and Recording Interest Capitalization Bullock Company is constructing a building for its own use and has been capitalizing interest based on average expenditures on a quarterly basis since the project began last year. The following expenditures are made during the first quarter: January 1, $1,960,000; February 1, $1,785,000; and March 31, $2,555,000. Bullock had the following debts outstanding during this quarter. Debt Amount Note payable, 10%, incurred specifically to finance construction $1,120,000 Short-term note payable, 15% 1,750,000 Mortgage note payable, 8% 840,000 Answer the following questions, rounding your answers to the nearest whole number.a. Compute interest to be capitalized and interest to be expensed for this first quarter. Amount of interest to be capitalized Amount of interest to expense b. Prepare the entry to record the…Current Attempt in Progress Blue Company is constructing a building. Construction began on February 1 and was completed on December 31. Expenditures were $2,052,000 on March 1, $1.200,000 on June 1, and $3,072,650 on December 31. Compute Blue's weighted-average accumulated expenditures for interest capitalization purposes. Weighted average accumulated expenditures $ eTextbook and Media Save for Later Attempts: 0 of 3 used Submit Answer
- On April 1, Paine Co. began construction of a small building. Payments of P120,000 were made monthly for four months beginning on April 1. The building was completed and ready for occupancy on August 1. For the purpose of determining the amount of interest cost to be capitalized, calculate the weighted-average accumulated expenditures on the building by completing the schedule below: Date Expenditures Capitalization Period Weighted-Average Expenditures _____ _____ _____ _____ _____ _____ _____ _____ _____ _____ _____ _____ _____ _____ _____ _____ _____Computing and Recording Interest Capitalization Bullock Company is constructing a building for its own use and has been capitalizing interest based on average expenditures on a quarterly basis since the project began last year. The following expenditures are made during the first quarter: January 1, $3,360,000; February 1, $3,060,000; and March 31, $4,380,000. Bullock had the following debts outstanding during this quarter. Debt Amount Note payable, 10%, incurred specifically to finance construction $1,920,000 Short-term note payable, 15% 3,000,000 Mortgage note payable, 8% 1,440,000 Answer the following questions, rounding your answers to the nearest whole number. a. Compute interest to be capitalized and interest to be expensed for this first quarter. Amount of interest to be capitalized $ 644,400 x Amount of interest to expense 757,200 x b. Prepare the entry to record the construction expenditures and the interest. Note: Record the debit accounts in alphabetical order using the…Using the following information, determine the net operating income (NOI) for the first year of operations of the subject property using "above-line" treatment of capital expenditures. Subject Property Number of apartments Market rent (per month) Vacancy and collection losses Operating expenses Capital expenditures O $135,000 $162,000 $137.700 $153,900 15 1000 10% of PGI 5% of EGI 10% of EGI
- During 2021, Colorado Company constructed a 3-storey building. The weighted average expenditures for capitalization of interest during 2021 amounted to P 23,600,000. The existin debt of Colorado are the following: • From Union Bank (specific borrowing), P 3,600,000, 10% • From Land Bank (general borrowing), P 6,000,000, 20% • From Security Bank (general borrowing), P 10,000,000, 18% QUESTION 1: What is the capitalized borrowing costs for the year ended December 31, 2021? [Select ] | Select] P3,750,000 P 3,788,000 P 3,360,000 P 4,110,000 QUESTION 2: What is the interest expense for the year ended December 31 , 2021? [ Select ]Crane Company is constructing a building. Construction began on January 1 and was completed on December 31. Expenditures were $6300000 on March 1, $5340000 on June 1, and $8850000 on December 31. Crane Company. borrowed $3170000 on January 1 on a5-year, 12% note to help finance construction of the building. In addition, the company had outstanding all year a 10%, 3-year $6350000 note payable and an 11%, 4-year, $12050000 note payable. What is the actual interest for Crane Company?Jugular Company started construction on a building on January 1 of the current year and completed construction on December 31 of the same year. The entity had only two interest-bearing notes outstanding during the year, and both of these notes were outstanding for all 12 months of the year.The following information is available:Average accumulated expenditures 2,500,000Ending balance in construction in progress beforecapitalization of interest 3,600,0006% note incurred specifically for the project 1,500,0009% long-term note 5,000,000What is the total cost of the building?a. 3,780,000b. 3,680,000c. 3,750,000d. 3,825,000