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On June 1, 2020, the Crocus Company began construction of a new manufacturing plant. The plant was completed on October 31, 2021. Expenditures on the project were as follows ($ in millions): July 1, 2020 64
October 1, 2020 32
February 1, 2021 40
April 1, 2021 26
September 1, 2021 25
October 1, 2021 11
On July 1, 2020, Crocus obtained a $80 million construction loan with a 6% interest rate. The loan was outstanding through the end of October, 2021. The company's only other interest-bearing debt was a long-term note for $100 million with an interest rate of 8%. This note was outstanding during all of 2020 and 2021. The company's fiscal year-end is December 31. Problem 1: What is the amount of interest that Crocus should capitalize in 2020, using the specific interest method?
Each of the following scenarios is independent. How much should be set aside today, so that it will grow to $30,000 in 15 years? The discount rate is 9%
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on june18 2006 jantz company had accounts receivable of 600000 and anallowance for doubtful accounts with a 22000
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As a result of these transactions, what is the amount of warranty expense for the year and what is the ending balance in Warranty Payable.
The company authorizes the sale of 10% preferred stock, 50,000 shares at par value of $50. Prepare stockholder's equity section of the balance sheet for year
To help finance a major expansion, Castro Chemical Company sold a noncallable bond several years ago that now has 20 years to maturity. This bond has a 9.25%.
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