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Category > Accounting Posted 21 Apr 2017 My Price 6.00

BC contract

[Round all numbers to the nearest whole dollar; round all percentages or unit prices to the nearest 2 decimal
places] 2. ABC contracted with a company to build a storage warehouse in 2014. Construction began on April 1 at which
time ABC paid $50,000. ABC then made additional payments as follows, based on progress made towards completion of the structure: June 1 $75,000
Sept. 1 $85,000
Dec. 1 $45,000
Dec. 31 $50,000 ABC borrowed $100,000 on January 1 specifically for this project at 8% interest. ABC had the following non-
specific borrowings outstanding during the year: 1 1% $3 million loan 6% $1 million loan A. How much interest should be capitalized on this building? [3. What is the ending balance in the Building account at the end of 2014‘? $

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SuperTutor
(15)
Status NEW Posted 21 Apr 2017 02:04 AM My Price 6.00

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file 1492742458-Solutions file.docx preview (56 words )
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