Reference no: EM132718456
Question - On January 1, 2021, the company obtained a $3 million loan with a 12% interest rate. The building was completed on September 30, 2022. Expenditures on the project were as follows:
January 1, 2021 $1,230,000
March 1, 2021 720,000
June 30, 2021 380,000
October 1, 2021 670,000
January 31, 2022 990,000
April 30, 2022 1,305,000
August 31, 2022 2,340,000
On January 1, 2021, the company obtained a $3 million construction loan with a 12% interest rate. Assume the $3 million loan is not specifically tied to construction of the building. The loan was outstanding all of 2021 and 2022. The company's other interest-bearing debt included two long-term notes of $5,600,000 and $7,600,000 with interest rates of 8% and 10%, respectively. Both notes were outstanding during all of 2021 and 2022. Interest is paid annually on all debt. The company's fiscal year-end is December 31.
Required -
1. Calculate the amount of interest that Mason should capitalize in 2021 and 2022 using the weighted-average method.
2. What is the total cost of the building?
3. Calculate the amount of interest expense that will appear in the 2021 and 2022 income statements.
|
Determine the amount of diluted earnings per share
: Besides, Manila Co. has 4,000, 10% convertible bonds with 1,000 face amount. Determine the amount of diluted earnings per share
|
|
Define how ebp might impact the quadruple aim in healthcare
: Reflect on how EBP might impact (or not impact) the Quadruple Aim in healthcare. Consider the impact that EBP may have on factors impacting these quadruple aim.
|
|
Demonstrate the complex relationships in the family
: Your task is to find quotations that demonstrate the complex relationships in the family. Please search for quotations that either:
|
|
Calculate the amount of interest expense that will appear
: On January 1, 2021, the company obtained a $3 million construction loan with a 12% interest rate. Calculate the amount of interest expense that will appear
|
|
Evaluate your effectiveness at meeting program essential
: Review your past academic work, evaluate your effectiveness at meeting this program essential, and ponder the impact that this proficiency will have on your.
|
|
Kind of stem cell for research
: Do you think that scientists should be give free rein to use every kind of stem cell for research? Should a person have an automatic "patent" on their genetic c
|
|
Mitigating against the device paradigm
: What role does a focal thing or practice play in mitigating against the device paradigm?
|
|
Journalize the transactions using proper bookkeeping format
: Jun 4 Received $100,000 cash for services provided. $20,000. Journalize the transactions using proper bookkeeping format
|