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Thornton Industries began construction of a warehouse on July 1, 2016. The project was completed on March 31, 2017. No new loans were required to fund construction. Thornton does have the following two interest-bearing liabilities that were outstanding throughout the construction period: $2,000,000, 8% note $8,000,000, 4% bonds Construction expenditures incurred were as follows: July 1, 2016 $ 400,000 September 30, 2016 600,000 November 30, 2016 600,000 January 30, 2017 540,000 The company’s fiscal year-end is December 31. Required: Calculate the amount of interest capitalized for 2016 and 2017. (Do not round the intermediate calculations. Round your percentage answers to 1 decimal place (i.e. 0.123 should be entered as 12.3%).)
Need a five year financial statements; income statement, cash flow and balance sheet for the given plan.
What is the profit Rum would earn on the new product if all the manufacturing capacity allocated by management is used and the product is sold for $36 per unit?
You are considering a new product launch. The project will cost $820,000, have a four-year life, and have no salvage value; depreciation is straight-line to zero. Sales are projected at 450 units per year; Based on your experience, you think the unit..
How can the company expand the equity capital and avoid high-risk debt in order to make up for the cash flow inadequacy using ESOP?
The Ajax Corporation purchased a railroad tank car 8 years ago for $60,000. It is being depreciated by SOYD depreciation, assuming a 10 year depreciable life and a $7000 salvage value. The tank car needs to be reconditioned now at a cost of $35,000. ..
The cost of capital will remain at 15% and the hospital intends to purchase adjoining property in 2012 as the location for the proposed cancer center. Depreciation expense will increase by $5,000 in each of the next five years.
Prepare journal entries to record the above merchandising transactions of Sheng Company, which applies the perpetual inventory system.
Compute the materials price and quantity variances for the month.- Compute the labor rate and efficiency variances for the month.
Evaluate the depreciation expense and the cost of timber sold related to depletion for 1998 and determine the cost of timber sold related to depletion for 2009.
Financial Accounting Standards Board (FASB) Statement #13 requires that for an unqualified audit report, financial (or capital) leases must be included in the balance sheet by reporting the
Madlem, Inc., produces and sells a single product whose selling price is $240.00 per unit and whose variable expense is $86.40 per unit. The company's fixed expense is $720,384 per month.
heather owns a two-story building. the building is used 60 percent for business use and 40 percent for personal use.
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