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"A company constructs a building for its own use. Construction began on January 1 and ended on December 30. The expenditures for construction were as follows: January 1, $518,000; March 31, $608,000; June 30, $402,000; October 30, $606,000. To help finance construction, the company arranged a 7% construction loan on January 1 for $705,000. The company’s other borrowings, outstanding for the whole year, consisted of a $3.04 million loan and a $5.07 million note with interest rates of 8% and 6%, respectively. Assuming the company uses the specific interest method, Calculate the amount of interest capitalized for the year. (Round the Weighted-average rate to two decimal places (e.g. 12.34%) for calculation purposes. Round your final answer to the nearest dollar amount. Enter your answer in dollars not in millions.)
Suppose that if the thermostats were purchased, Climate-Control, Inc., could use the freed capacity to launch a new product. The segment margin of the new product would be $65,000 per year. Should Climate-Control, Inc., accept the offer to buy the..
Explain how the rules concerning stock ownership apply to partners and professional staff. Give an example of when stock ownership would be prohibited for each.
The company allocates any under applied or over applied overhead among work in process, finished goods, and cost of goods sold at the end of the month on the basis of the overhead applied during the month in those accounts.
Prepare the journal entry to record the stock split if it is not to be effected in the form of a stock dividend. Illustrate what is the par per share after the split? (Round your answer to 2 decimal places. Omit the "$" sign in your response.)
Give all required journal entries for fund based and government wide financial statements. Illustrate what information do the government-wide-financial statements present? what information do the fund-based financail statements present?
Payment of cash dividends are recorded as a decrease in cash and an increase in expenses a decrease in cash and a decrease in retained earnings an increase in dividend expense and a decrease in cash a decrease in cash and a decrease in..
Evaluate sales price per dozen pretzels using 120% markup on variable cost and evaluate contribution margin per dozen pretzels and the breakeven point for the quarter (three months) in dollars and units
Explain what conclusions the auditors may draw from the above information, assuming the sample was selected: Using nonstatistical sampling. As part of a difference estimation plan for estimating the total population value.
How much depreciation could RLM record for the year ended December 31, 2011
Determine the cost of the units transferred to the next department? What does Acme's choice of costing system tell you about the product Acme makes and sells?
The same enterprise’s payroll cycle model includes a cash entity with the attributes, cash account id, cash account type, and cash account location. If the enterprise integrates the financing and payroll views, explain how many cash entities should..
Square footage requirements and effective utilization - If you're new strip mall will have 15,000 square feet of retail space available to be leased, to which businesses should you lease and why?
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