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Dominik [7]
2 years ago
11

On March 1, Gismo Co. began construction of a small building. Payments of $2,400,000 were made monthly for three months beginnin

g March 1. The building was completed and ready for occupancy on June 1. In determining the amount of interest cost to be capitalized, the weighted-average accumulated expenditures are
Business
1 answer:
katrin2010 [14]2 years ago
6 0

Answer:

$1,200,000

Explanation:

Gismo Co weighted-average accumulated expenditures

$2,400,000 (3/12 + 2/12 + 1/12)

=$2,400,000 ×0.5

= $1,200,000

Therefore In determining the amount of interest cost to be capitalized, the weighted-average accumulated expenditures are $1,200,000

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