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Provide rational and clarifications of the proper treatment

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Assignment

Discuss with your team the following case study:

Client X contacted you for clarification and recommendations regarding whether the interest cost on construction of a new warehouse may be included in the cost of the new warehouse.

Write a team consensus response of no more than 700 words to include the following:

• Provide rational and clarifications of the proper treatment of interest cost under the rules of GAAP.
• Explain the impact of this interest cost on:

o Financial statements.
o Income statement.
o Balance sheet.
o Statement of owners' equity.

Reference no: EM131540068

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