During 2014 allyson scott building company constructed

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Reference no: EM13574715

During 2014, Allyson Scott Building Company constructed equipment (qualified) at a total cost of $9,000,000. The company made the payments to complete the project as follows: 1/1/14-$1,600,000, 3/1/14-1,800,00, 5/1/14-$2,100,000, 8/1/14-$2,400,000, 12/3/14-$1,100,000. The company had the following debt outstanding at December 31, 2014 1. 10%, 5-year note to finance construction of various assets, dated January 1, 2014, with interest payable annually on January 1 $4,500,000 2. 12%, ten-year bonds issued at par on December 31, 2008, with interest payable annually on December 31 5,000,000 3. 9%, 3-year note payable, dated January 1, 2011, with interest payable annually on January 1 2,500,000 Compute the amount of each of the following ( Show computations)

1. Weight average accumulated expenditures.

2. Avoidable interest

3. Total interest to be capitalized during 2014 4.

Reference no: EM13574715

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