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Calculate the weighted-average accumulated expenditures

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Question - On March 1, Patricia Co. began construction of a small building. The following expenditures were incurred for construction:

March 1 $315,000

April 1. 254,000

May 1. 751,500

June 1 1,152,000

July 1 391,000

The building was completed and occupied on July 1. To help pay for construction $215,000 was borrowed on March 1 on a 12%, three-year note payable. The only other debt outstanding during the year was a $2,000,000, 10% note issued two years ago.

Calculate the weighted-average accumulated expenditures.

Reference no: EM132601806

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