FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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On January 1, 2024, a company began construction of a new warehouse. The building was finished and ready for use on September 30, 2025. Expenditures on the project were as follows:
January 1, 2024 $ 323,000
September 1, 2024 $ 483,000
December 31, 2024 $ 483,000
March 31, 2025 $ 483,000
September 30, 2025 $ 323,000
The company had $6,100,000 in 15% bonds outstanding through both years.
Capitalized interest in 2024 was:
Multiple Choice
$84,712.
$48,450.
$72,600.
$96,900.
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