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What the cost of constructed building on december must be

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Reference no: EM132867200

Problem 1: ABC Co. had these loans outstanding for the year 2020: Specific Loan: P1,000,000 at 10% General Loan P20,000,000 at12%. The company began a self-construction of a building on January 1, 2020 and was completed on December 31, 2020. The following expenditures were made during 2020: January 1:P1,000,000 July 1: P2,000,000 November 1: P3,000,000 Total: P6,000,000 The cost of constructed building on December 31, 2020 must be

a. P6,000,000
b. P6,250,000
c. P6,280,000
d. P6,300,000

Reference no: EM132867200

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