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lora16 [44]
3 years ago
8

On January 2, 2014, Indian River Groves began construction of a new citrus processing plant. The automated plant was finished an

d ready for use on September 30, 2015. Expenditures for the construction were as follows: Indian River Groves borrowed $2,200,000 on a construction loan at 12% interest on January 2, 2014. This loan was outstanding during the construction period. The company also had $8,000,000 in 9% bonds outstanding in 2014 and 2015. The interest capitalized for 2014 was:
Business
1 answer:
9966 [12]3 years ago
7 0

Answer:

the expenditures are missing, so I looked for a similar question:

  • 1/2/2014 $400,000
  • 7/1/2014 $1,200,000
  • 12/31/2014 $1,200,000
  • 3/31/2015 $1,200,000
  • 9/30/2015 $800,000

Weighted average expenditures for 2014:

January 1 = $400,000 x 1 = $400,000

July 1 = $1,200,000 x 1/6 = $600,000

December 31 = $1,200,000 x 0 = $0

total = $1,000,000

Since the company borrowed $2,200,000 specifically for this construction project, then capitalized interests = $1,000,000 x 12% = $120,000

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OLga [1]

Answer:

Option (d) is correct.

Explanation:

Given that,

Customer purchases $340 worth of merchandise from The GAP using a gift card.

A gift card is having an amount of money that is used by the gift card holder for the purpose of purchasing goods. So, in the books of GAP, the value of gift card is debited as an unearned revenue and the sales revenue is credited.

The journal is as follows:

Unearned revenue A/c Dr. $340

         To sales revenue A/c         $340

(To record the merchandise sold for a gift card)

6 0
3 years ago
Congress missed the fact that various agencies with responsibility for supervising the banking industry were negligent in identi
stira [4]

Answer:

oversight.

Explanation:

Oversight can be defined as an unintentional failure to notice a mistake or error, or an unintentional failure to act upon an event caused by an error.

Both the FED and the SEC should have noticed that the financial system was in a really bad shape way before Bear Stearns and Lehman Brothers collapsed, or AIG (and others) needed a huge bailout. Apparently both the FED and SEC were all too optimistic about the market and their optimism blinded them. As always the consequences of negligent public servants were paid mostly by the average taxpayer.

5 0
2 years ago
Traditionally, older adults have been portrayed in a __________ manner by the american media.
goldenfox [79]

Traditionally, older adults have been portrayed in a stereotypical manner by the American media.

<h3>What is stereotypical?</h3>

A stereotype is a generalized opinion about a specific group of people that are used in social psychology. People may have this expectation of every member of a given group. Expectations can take many different forms; they might relate to a group's personality, interests, appearance, or skill. Stereotypes can occasionally be true even when they are overgeneralized, unreliable, and resistant to new knowledge.

When applied to specific individuals, these generalizations about groups of people may be accurate, but they may also be incorrect, which is one of the causes of prejudice.

To learn more about stereotypical from the given link:

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6 0
1 year ago
Gently laser clinic purchased laser equipment for $4,445 and paid $633 down, with the remainder to be paid later. the correct en
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Answer:

Accounts Payable $3,812 credit

<h3>Explanation:</h3>

Equipment  $4,445 debit,

Cash $633 credit,

now, $4445- $633 = $3,812

The correct entry would be $3,812.

To learn more about it, refer

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2 years ago
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