Reference no: EM132319488
Question
Monty Furniture Company started construction of a combination office and warehouse building for its own use at an estimated cost of $4,950,000 on January 1, 2017. Monty expected to complete the building by December 31, 2017. Monty has the following debt obligations outstanding during the construction period.
Construction loan-10% interest, payable semiannually, issued December 31, 2016$1,989,400Short-term loan-8% interest, payable monthly, and principal payable at maturity on May 30, 20181,591,100Long-term loan-9% interest, payable on January 1 of each year. Principal payable on January 1, 2021993,800
Assume that Monty completed the office and warehouse building on December 31, 2017, as planned at a total cost of $5,211,800, and the weighted-average amount of accumulated expenditures was $3,768,500. Compute the avoidable interest on this project. (Use interest rates rounded to 2 decimal places, e.g. 7.58% for computational purposes and round final answers to 0 decimal places, e.g. 5,275.)
Avoidable Interest $
Compute the depreciation expense for the year ended December 31, 2018. Monty elected to depreciate the building on a straight-line basis and determined that the asset has a useful life of 30 years and a salvage value of $299,800. (Round answer to 0 decimal places, e.g. 5,275.)
Depreciation Expense$
What are the components of gnh and gdp
: What are the components of GNH and GDP? Which measure,GDP or GNH, is easier to compute?
|
Identify and summarise the current accounting policies
: Identify and summarise the current accounting policies relating to research and development and the development of technology
|
How did you arrive at the recommendations
: Consider the following restaurants: Pizza Hut, Popeyes, and Taco Bell. When conducting a review on any business, the first thing that needs to completed.
|
Determine the cost of timber sold related to depletion
: If Blossom plants five seedlings at a cost of $4 per seedling for each tree cut, how should Blossom treat the reforestation?
|
Compute the depreciation expense for the year ended
: Compute the depreciation expense for the year ended December 31, 2018. Monty elected to depreciate the building on a straight-line basis and determined.
|
How the e-business performs the functions
: President Learner has received a call from the founder and previous CEO of Cyber-Health, Lucy Vision, Ph.D., who urgently wants to discuss the e-business'.
|
Explain paradigm shifts in the fig technologies
: Explain paradigm shifts in the Fig Technologies organizational environment from increased diversity legislation. Include citations and references from at least
|
Prepare the journal entries to record the exchange
: Shamrock Company exchanged equipment used in its manufacturing operations plus $3,840 in cash for similar equipment used in the operations of Bridgeport.
|
Different functional departments such as finance
: How will your budget allocation for different functional departments such as finance, marketing , human resources, traing and deveopment operationsm?
|