User Account

All Pages

What is the amount of interest that should be capitalized

Assignment Help Financial Accounting
Reference no: EM132316646

Question

During 2017, Swifty Corporation constructed assets costing $3990000. The weighted-average accumulated expenditures on these assets during 2017 was $2380000. To help pay for construction, $1800000 was borrowed at 10% on January 1, 2017, and funds not needed for construction were temporarily invested in short-term securities, yielding $32000 in interest revenue.

Other than the construction funds borrowed, the only other debt outstanding during the year was a $1940000, 10-year, 9% note payable dated January 1, 2011.

What is the amount of interest that should be capitalized by Swifty during 2017?

Reference no: EM132316646

Questions Cloud

What are the weighted-average accumulated expenditures : Sheffield Corp. is constructing a building. Construction began on January 1 and was completed on December 31. Expenditures were $6456000 on March 1.
Compare the leadership style : General Motor's executives told me they were looking for 3 qualities in prospective employees. Compare and contrast the leadership style of Donald Trump
Contributes to a successful project outcome : What individual and/or team skills significantly contributes to a successful project outcome?
What is the ethical issue or dilemma : What is the ethical issue or dilemma that is presented, and explain your reasons and possible alternative solutions to the one that you propose
What is the amount of interest that should be capitalized : During 2017, Swifty Corporation constructed assets costing $3990000. The weighted-average accumulated expenditures on these assets during 2017.
Write a procedure the details the specific dates : Write a procedure the details the specific dates when each tax and super obligation is due to be reconciled and paid. (victoria, australia)
Write about personality types and personal values : What it takes to be effective employee within organization. Write about personality types and personal values that are attributed to being outstanding employee.
Organization when there is a shortage of talent : What negative implications of applying (lower criteria) strategies attract people to the organization when there is a shortage of talent?
At what amount should the acquired computer be recorded : How much gain should Crane recognize on this exchange, and at what amount should the acquired computer be recorded, respectively?

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