Answer:
Coronado Industries
The weighted-average accumulated expenditures are:
= $8,388,333.
Explanation:
a) Data and Calculations:
Amount borrowed on June 1 = $3,170,000
Interest rate = 13%
Outstanding 11% 3-year note payable = $6,350,000
Outstanding 12% 4-year note payable = $12,350,000
Date Expenditure Weight Weighted-Average
Expenditure
March 1 $6,370,000 10/12 $5,308,333
June 1 $5,280,000 7/12 3,080,000
December 31 $8,650,000 0/12 0
Weighted-average accumulated expenditure $8,388,333
