User Account

All Pages

Find the interest capitalized was

Assignment Help Financial Accounting
Reference no: EM132568016

On January 2, 2016, Indian River Groves began construction of a new citrus processing plant. The automated plant was finished and ready for use on September 30, 2017. Expenditures for the construction were as follows:

January 2, 2016 P200,000

September 1, 2016 600,000

December 31, 2016 600,000

March 31, 2017 600,000

September 30, 2017 400,000

Indian River Groves borrowed P1,100,000 on a construction loan at 12% interest on January 2, 2016. This loan was outstanding during the construction period. The company also had P4,000,000 in 9% bonds outstanding in 2016 and 2017.

Question 1: The interest capitalized for 2017 was:

Select one:

a. P124,740

b. P25,740

c. P99,000

d. P118,305

Reference no: EM132568016

Questions Cloud

Federal versus the state : Federal versus the State: which governments do you trust to oversee most social issues such as environment, workplace safety?
What was the actual rate per hour : All materials purchased were used during the year. If the labour price variance was $8,446 favourable, what was the actual rate per hour
Review -quality enhancement in higher education institutions : Review article - QUALITY ENHANCEMENT IN HIGHER EDUCATION INSTITUTIONS THROUGH BEST PRACTICES IN LIBRARY
What are the approximate cost of giving up a cash discount : What are the approximate cost of giving up a cash discount under the terms of sale 2/10 net 60? Assume a 365-day year. Provide the suitable eaxmple.
Find the interest capitalized was : Find The interest capitalized for 2017 was? On January 2, 2016, Indian River Groves began construction of a new citrus processing plant.
Objects in uniform circular motion : Draw free-body diagrams for each of the following objects in uniform circular motion. State the force(s) providing the centripetal force.
What is the gain from biological asset attributable : What is the gain from biological asset attributable to price change? On January 1, 2017, an entity has a herd of 100 2-year old animals.
Determine the income tax expense to be reported : Joplin Laminating Corporation reported income before income taxes during the first three quarters, Determine the income tax expense to be reported
Volume of saturated vapor to the volume : No 1: Suppose a closed and rigid vessel is initially filled with mixture of saturated liquid and saturated water vapor at 200 kPa

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd