User In February 2024, Cullumber Corp, began the construction of a 10-storey building. The construction is expected to be completed by January 2025. during 2024, the following payments were made: Apr. 1: 1010000 Jun. 1: 1500000 Aug. 1: 840000 Oct. 1: 890000 No asset specific debt was incurred. During 2024, Cullumber's general debt consisted of the following: $1.8 million, 5%, 2-year note, $1.1 million, 4.5%, 2-year note, $0.50 million, 3%, 5-year note. Calculate the avoidable borrowing costs. Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.

The following transactions pertain to the general borrowings made during 2021 by Owshi Company in connection with the construction of the company’s new warehouse: • 8% bank loan- $2,400,000 • 6% short-term note- $1,600,000 • 8% long-term note- $2,000,000 The construction started on January 1, 2021 and the warehouse was completed on December 31, 2021. Expenditures on the warehouse were as follows: • January 1- $400,000 • March 31- $1,000,000 • June 30- $1,200,000 • September 30- $1,000,000 • December 31- $400,000 How much is the capitalizable borrowing cost of Owshi Company?

Company A signed an agreement with a contractor to have a production facility built. The construction started on 01/01/2025 and continued until 08/31/2026. Company A borrowed a bank loan to be used in financing of the construction. The following information on Company A's bank loans is available: Annual Interest Date Borrowed Amount ($) Term Rate Specific Construction 01/01/2025 850,000 10 percent 2 years Loan Other Loan Other Loan 08/10/2024 450,000 12 percent 3 years 11/05/2023 750,000 13 percent 5 years Company A incurred the following costs during 2025: Expenditure Date Expenditure Amount ($) 01/01/2025 03/01/2025 07/01/2025 12/31/2025 600,000 720,000 540,000 330,000 The amount of interest cost to be capitalized in 2025 is approximately: $160,027 O $155,626 O $163,275 $152,215

Isko Company had the following general borrowings during 2021 which were used to finance the construction of the entity's new building. Principal 2,800,000 Borrowing Cost 280,000 10% bank loan 10% short-term note 1,600,000 160,000 2,000,000 6,400,000 The construction began on January 1, 2021 and the building was completed on December 31, 2021. In the first phase of the construction, there were idle funds which the entity invested and earned interest 12% long-term loan 240,000 680,000 income of P62,500. Expenditures on the building were made as follows: January 1 March 31 400,000 1,000,000 June 30 1,200,000 September 30 1,000,000 December 31 400,000 What is the amount of capitalizable borrowing cost? (Use 3 decimal places for capitalization rate.)

On 4/1/22, Little Inc. borrowed funds on a 9%, one-year note to finance the construction of a new building to be used for its own purposes. Construction on the project began on 5/1/22 and was completed on 9/1/22. Rounded to the nearest whole month, how many total months in 2022 should interest be capitalized under the interest capitalization rules? 0 months 4 months 5 months 8 months 9 months 12 months

Bonita Industries is constructing a building. Construction began on January 1 and was completed on December 31. Expenditures were $6440000 on March 1, $5260000 on June 1, and $8850000 on December 31. Bonita Industries borrowed $3190000 on January 1 on a 5-year, 11% note to help finance construction of the building. In addition, the company had outstanding all year a 9%, 3-year, $6440000 note payable and an 10%, 4-year, $12650000 note payable.What are the weighted-average accumulated expenditures? $9860000 $20550000 $8435000 $11700000

The following selected transactions relate to liabilities of Chicago Glass Corporation for 2024. Chicago's fiscal year ends on December 31. On January 15, Chicago received $7,400 from Henry Construction toward the purchase of $70,000 of plate glass to be delivered on February 6. On February 3, Chicago received $7,100 of refundable deposits relating to containers used to transport glass components. On February 6, Chicago delivered the plate glass to Henry Construction and received the balance of the purchase price. First quarter credit sales totaled $740,000. The state sales tax rate is 4% and the local sales tax rate is 2%. Required: Prepare journal entries for the above transactions. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field.

Subject: accounting

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IvanhoeFurniture Company started construction of a combination office and warehouse building for its own use at an estimated cost of $10,500,000 on January 1, 2020. Ivanhoe expected to complete the building by December 31, 2020. Ivanhoe has the following debt obligations outstanding during the construction period. Construction loan-12% interest, payable semiannually, issued December 31, 2019   $4,200,000 Short-term loan-10% interest, payable monthly, and principal payable at maturity on May 30, 2021   3,150,000 Long-term loan-11% interest, payable on January 1 of each  year. Principal payable on January 1, 2024   2,100,000   Compute the depreciation expense for the year ended December 31, 2021. Ivanhoe elected to depreciate the building on a straight-line basis and determined that the asset has a useful life of 30 years and a salvage value of $630,000. (Round answer to 0 decimal places, e.g. 5,275.) Depreciation Expense   $