During 2012 kimmel co incurred average accumulated

Assignment Help Accounting Basics

Reference no: EM13591874

During 2012, Kimmel Co. incurred average accumulated expenditures of $600,000 during construction of assets that qualified for capitalization of interest. The only debt outstanding during 2012 was a $750,000, 10%, 5-year note payable dated January 1, 2010. What is the amount of interest that should be capitalized by Kimmel during 2012?

a. $0.

b. $15,000.

c. $60,000.

d. $75,000.

Please show work so that I can follow what you did and thinking process.

Reference no: EM13591874

Questions Cloud

What are the five basic principles of cash management that : the oxford company has budgeted sales revenues as follows july august september credit sales 30000 24000 18000 cash

The key criterion for qualifying as a hedge is that the : the key criterion for qualifying as a hedge is that the hedging relationship must be highly effective in achieving

For each of the following molecules determine what atomic : question for each of the following molecules determine what atomic orbitals on the central atom are allowed by symmetry

Inform the president of any new internal control : ljb company a local distributor has asked your accounting firm to evaluate their system of internal controls because

During 2012 kimmel co incurred average accumulated : during 2012 kimmel co. incurred average accumulated expenditures of 600000 during construction of assets that qualified

Suppose your friend thinks that perpendicular lines if : suppose your friend thinks that perpendicular lines if neither line is vertical have slopes that are reciprocals of

An arctic weather balloon is filled with 102l of helium gas : question an arctic weather balloon is filled with 10.2l of helium gas inside a prep shed. the temperature inside the

Compute the net cash used provided by operating activities : martinez corporation engaged in the following cash transactions during 2012.sale of land and building 186710purchase of

If congress increases the income tax rate such that songs : song earns 143000 taxable income as an interior designer and is taxed at an average rate of 33 percent i.e. 47190 of

User Account

All Pages