Create an Account

Already have account?

Forgot Your Password ?

Home / Questions / On January 2 2014 Indian River Groves began construction of a new citrus processing plant...

On January 2 2014 Indian River Groves began construction of a new citrus processing plant The automated plant was finished and ready for use on September 30 2015 Expenditures for the construction

On January 2, 2014, Indian River Groves began construction of a new citrus processing plant. The automated plant was finished and ready for use on September 30, 2015. Expenditures for the construction were as follows: January 2, 2014 $ 400,000 September 1, 2014 1,200,000 December 31, 2014 1,200,000 March 31, 2015 1,200,000 September 30, 2015 800,000 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:

Apr 24 2020 View more View Less

Answer (Solved)

question Subscribe To Get Solution

Related Questions