Solution-Calculate the total amount to be included in

Calculate the total amount to be included in property

Reference no: EM13556147

01 January 20x5, Y began to construct a supermarket. It purchased a leasehold interest in the site $ 25 million. The construction of the building cost $ 9million and the fixtures and fittings cost $6million .The construction of the supermarket was completed on 30 September 20x5 and it was brought into use on 1 January 20x6.

borrowed $ 40million in order to finance this project. The loan carried interest at 10% per annum. It was repaid on 30 June 20x6

capitalized borrowing costs where this is permitted by standards

You are required to calculate the total amount to be included in Property, Plant & Equipment in respects of the development at 31 December 20x5.

Reference no: EM13556147

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Calculate the total amount to be included in property

Reference no: EM13556147

Reference no: EM13556147

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