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telo118 [61]
3 years ago
10

On January 1, 2021, the Highlands Company began construction on a new manufacturing facility for its own use. The building was c

ompleted in 2022. The company borrowed $1,500,000 at 10% on January 1 to help finance the construction. In addition to the construction loan, Highlands had the following debt outstanding throughout 2021: $8,000,000, 15% bonds $2,000,000, 10% long-term note Construction expenditures incurred during 2021 were as follows: January 1 $ 660,000 March 31 1,260,000 June 30 872,000 September 30 660,000 December 31 460,000 Required: Calculate the amount of interest capitalized for 2021 using the specific interest method. (Do not round the intermediate calculations. Round your percentage answers to 1 decimal place (i.e. 0.123 should be entered as 12.3%).)
Business
1 answer:
sattari [20]3 years ago
8 0

Answer:

Answer for the question :

On January 1, 2021, the Highlands Company began construction on a new manufacturing facility for its own use. The building was completed in 2022. The company borrowed $1,500,000 at 10% on January 1 to help finance the construction. In addition to the construction loan, Highlands had the following debt outstanding throughout 2021: $8,000,000, 15% bonds $2,000,000, 10% long-term note Construction expenditures incurred during 2021 were as follows: January 1 $ 660,000 March 31 1,260,000 June 30 872,000 September 30 660,000 December 31 460,000 Required: Calculate the amount of interest capitalized for 2021 using the specific interest method. (Do not round the intermediate calculations. Round your percentage answers to 1 decimal place (i.e. 0.123 should be entered as 12.3%).)"

is explained in the attachment.

Explanation:

Download pdf
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I think it is d if not then d haha

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Tell me about one of your most passionate beliefs and explain how it has an impact on the way you think, behave, attend events,
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An analysis of the competition suggests the average retail selling price of an electronic game is $89. The owner of a computer a
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Yes, she should buy

Explanation:

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=$89- $55

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As a percentage, the margin will be

=34/55 x 100

=61.82%

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Which is the difference between static storage systems and dynamic storage systems
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3 0
3 years ago
The supplies account had a beginning balance of $1,693. Supplies purchased during the period totaled $4,413. At the end of the p
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Answer:

Debit Supplies expense $5,661

Credit Supplies account $5,661

Explanation:

At the time of purchasing supplies, the entries includes a debit to supplies accounts, and a credit to cash or accounts payable which is dependent on whether the cash purchased was done via cash or an account

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Supplies used = $6,106 + $445

Supplies used = $5,661

6 0
2 years ago
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