Homework Answers
| Avoidable Interest | $ 5,73,382 | |||||
| Workings: | ||||||
| Expenditure for the year | ||||||
| Mar-01 | $ 43,20,000 | X | 10 / 12 | = | $ 36,00,000 | |
| Jun-01 | $ 28,80,000 | X | 7 / 12 | = | $ 16,80,000 | |
| Dec-31 | $ 72,00,000 | X | 0 / 12 | = | $ - | |
| $ 1,44,00,000 | $ 52,80,000 | |||||
| Interest Capitalized | ||||||
| $ 52,80,000 | ||||||
| Less: | $ 24,00,000 | X | 12.00% | = | $ 2,88,000 | |
| Balance | $ 28,80,000 | X | 9.9091% | = | $ 2,85,382 | |
| Interest Capitalized | = | $ 5,73,382 | ||||
| Weighted Average rate of all debt:- | ||||||
| $ 48,00,000 | X | 8% | = | $ 3,84,000 | ||
| $ 84,00,000 | X | 11% | = | $ 9,24,000 | ||
| $ 1,32,00,000 | $ 13,08,000 | |||||
| Weighted Average rate of all debt = | 9.9091% | |||||
| ($1308000 / $13200000) | ||||||
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Brief Exercise 10-04 Your answer is incorrect. Try again Nash Company is constructing a b $7,200,000...
Concord Company is constructing a building. Construction began on February 1 and was completed on December...
Concord Company is constructing a building. Construction began on February 1 and was completed on December 31. Expenditures were $4,320,000 on March 1, $2,880,000 on June 1, and $7,200,000 on December 31. Concord Company borrowed $2,400,000 on March 1 on a 5-year, 10% note to help finance construction of the building. In addition, the company had outstanding all year a 12%, 5-year, $4,800,000 note payable and an 11%, 4-year, $8,400,000 note payable. Compute avoidable interest for Concord Company. Use the...
Current Attempt in Progress Vaughn Company is constructing a building Construction began on February 1 and...
Current Attempt in Progress Vaughn Company is constructing a building Construction began on February 1 and was completed on December 31. Expenditures were $4,320,000 on March 1, $2,880,000 on June 1, and $7.200,000 on December 31. Vaughn Company borrowed $2,400,000 on March 1 on a 5-year, 10% note to help finance construction of the building. In addition, the company had outstanding all year a 12%, 5-year. $4,800,000 note payable and an 11%, 4-year. $8,400,000 note payable. Compute avoidable interest for...
Brief Exercise 10-04 X Your answer is incorrect. Try again. Pronghorn Company is constructing a building....
Brief Exercise 10-04 X Your answer is incorrect. Try again. Pronghorn Company is constructing a building. Construction began on February 1 and was completed on December 31 Expenditures were $3,600,000 on March 1, $2,400,000 on June 1, and $6,000,000 on December 31 Pronghorn Company borrowed $2,000,000 on March 1 on a 5-year, 12 % note to help finance construction of the building. In addition, the company had outstanding all year a 8 %, 5-year, $4,000,000 note payable and an 11...
Pronghorn Company is constructing a building. Construction began on February 1 and was completed on December...
Pronghorn Company is constructing a building. Construction began on February 1 and was completed on December 31. Expenditures were $2,880,000 on March 1. $1.920,000 on June 1, and $4,800,000 on December 31 Pronghorn Company borrowed $1,600,000 on March 1 on a 5-year, 12% note to help finance construction of the building. In addition, the company had outstanding all year a 8%, 5-year, $3,200,000 note payable and an 11%, 4-year. $5,600,000 note payable. Compute avoidable interest for Pronghorn Company. Use the...
Brief Exercise 10-03 Your answer is incorrect. Try again. Wildhorse Company is constructing a building. Co...
Brief Exercise 10-03
Your answer is incorrect. Try again.
Wildhorse Company is constructing a building. Construction began
on February 1 and was completed on December 31. Expenditures were
$1,980,000 on March 1, $1,260,000 on June 1, and $3,040,930 on
December 31.
Wildhorse Company borrowed $1,078,330 on March 1 on a 5-year, 12%
note to help finance construction of the building. In addition, the
company had outstanding all year a 9%, 5-year, $2,012,400 note
payable and an 10%, 4-year, $3,382,000 note...
Brief Exercise 10-04 Whispering Company is constructing a building. Construction began on February 1 and was...
Brief Exercise 10-04 Whispering Company is constructing a building. Construction began on February 1 and was completed on December 31. Expenditures were $3,960,000 on March 1, $2,640,000 on June 1, and $6,600,000 on December 31. Whispering Company borrowed $2,200,000 on March 1 on a 5-year, 10% note to help finance construction of the building. In addition, the company had outstanding all year a 12%, 5-year, $4,400,000 note payable and an 11%, 4-year, $7,700,000 note payable. Compute avoidable interest for whispering...
Avoidable interest Pronghorn Company is constructing a building. Construction began on February 1 and was completed...
Avoidable interest
Pronghorn Company is constructing a building. Construction began on February 1 and was completed on December 31. Expenditures were $2,880.000 on March 1 $1.920,000 on June 1, and $4,800,000 on December 31 Pronghorn Company borrowed $1,600,000 on March 1 on a 5-year, 12% note to help finance construction of the building. In addition, the company had outstanding all year a 8%, 5-year, $3.200,000 note payable and an 11%, 4-year, 55,600,000 note payable Compute avoidable interest for Pronghorn Company....
Buffalo Company is constructing a building. Construction began on February 1 and was completed on December...
Buffalo Company is constructing a building. Construction began on February 1 and was completed on December 31. Expenditures were $5,040,000 on March 1, $3,360,000 on June 1, and $8,400,000 on December 31. Buffalo Company borrowed $2,800,000 on March 1 on a 5-year, 12% note to help finance construction of the building. In addition, the company had outstanding all year a 8%, 5-year, $5,600,000 note payable and an 11%, 4-year, $9,800,000 note payable. Compute avoidable interest for Buffalo Company. Use the...
Brief Exercise 10-04 Stellar Company is constructing a building. Construction began on February 1 and was...
Brief Exercise 10-04 Stellar Company is constructing a building. Construction began on February 1 and was completed on December 31. Expenditures were $1,980,000 on March 1, $1,320,000 on June 1, and $3,300,000 on December 31. Stellar Company borrowed $1,100,000 on March 1 on a 5-year, 12% note to help finance construction of the building. In addition, the company had outstanding all year a 10%, 5-year, $2,200,000 note payable and an 11%, 4-year, $3,850,000 note payable. Compute avoidable interest for Stellar...
Nash Company is constructing a building. Construction began on February 1 and was completed on December...
Nash Company is constructing a building. Construction began on February 1 and was completed on December 31. Expenditures were $3,240,000 on March 1, $2,160,000 on June 1, and $5,400,000 on December 31. Nash Company borrowed $1,800,000 on March 1 on a 5-year, 10% note to help finance construction of the building. In addition, the company had outstanding all year a 12%, 5-year, $3,600,000 note payable and an 11%, 4-year, $6,300,000 note payable. Compute avoidable interest for Nash Company. Use the...
Concord Company is constructing a building. Construction began on February 1 and was completed on December 31. Expenditures were $4,320,000 on March 1, $2,880,000 on June 1, and $7,200,000 on December 31. Concord Company borrowed $2,400,000 on March 1 on a 5-year, 10% note to help finance construction of the building. In addition, the company had outstanding all year a 12%, 5-year, $4,800,000 note payable and an 11%, 4-year, $8,400,000 note payable. Compute avoidable interest for Concord Company. Use the...
Current Attempt in Progress Vaughn Company is constructing a building Construction began on February 1 and was completed on December 31. Expenditures were $4,320,000 on March 1, $2,880,000 on June 1, and $7.200,000 on December 31. Vaughn Company borrowed $2,400,000 on March 1 on a 5-year, 10% note to help finance construction of the building. In addition, the company had outstanding all year a 12%, 5-year. $4,800,000 note payable and an 11%, 4-year. $8,400,000 note payable. Compute avoidable interest for...
Brief Exercise 10-04 X Your answer is incorrect. Try again. Pronghorn Company is constructing a building. Construction began on February 1 and was completed on December 31 Expenditures were $3,600,000 on March 1, $2,400,000 on June 1, and $6,000,000 on December 31 Pronghorn Company borrowed $2,000,000 on March 1 on a 5-year, 12 % note to help finance construction of the building. In addition, the company had outstanding all year a 8 %, 5-year, $4,000,000 note payable and an 11...
Pronghorn Company is constructing a building. Construction began on February 1 and was completed on December 31. Expenditures were $2,880,000 on March 1. $1.920,000 on June 1, and $4,800,000 on December 31 Pronghorn Company borrowed $1,600,000 on March 1 on a 5-year, 12% note to help finance construction of the building. In addition, the company had outstanding all year a 8%, 5-year, $3,200,000 note payable and an 11%, 4-year. $5,600,000 note payable. Compute avoidable interest for Pronghorn Company. Use the...
Brief Exercise 10-03
Your answer is incorrect. Try again.
Wildhorse Company is constructing a building. Construction began
on February 1 and was completed on December 31. Expenditures were
$1,980,000 on March 1, $1,260,000 on June 1, and $3,040,930 on
December 31.
Wildhorse Company borrowed $1,078,330 on March 1 on a 5-year, 12%
note to help finance construction of the building. In addition, the
company had outstanding all year a 9%, 5-year, $2,012,400 note
payable and an 10%, 4-year, $3,382,000 note...
Brief Exercise 10-04 Whispering Company is constructing a building. Construction began on February 1 and was completed on December 31. Expenditures were $3,960,000 on March 1, $2,640,000 on June 1, and $6,600,000 on December 31. Whispering Company borrowed $2,200,000 on March 1 on a 5-year, 10% note to help finance construction of the building. In addition, the company had outstanding all year a 12%, 5-year, $4,400,000 note payable and an 11%, 4-year, $7,700,000 note payable. Compute avoidable interest for whispering...
Avoidable interest
Pronghorn Company is constructing a building. Construction began on February 1 and was completed on December 31. Expenditures were $2,880.000 on March 1 $1.920,000 on June 1, and $4,800,000 on December 31 Pronghorn Company borrowed $1,600,000 on March 1 on a 5-year, 12% note to help finance construction of the building. In addition, the company had outstanding all year a 8%, 5-year, $3.200,000 note payable and an 11%, 4-year, 55,600,000 note payable Compute avoidable interest for Pronghorn Company....
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