|Interest Capitalized||$ 4,53,000||$ 5,67,411|
|Interest Expense||$ 9,67,000||$ 8,52,589|
|Cost of Building||=||$ 87,50,411|
|Expenditure for 2021|
|Jan 1,2021||$ 16,80,000||X||12/12||=||$ 16,80,000|
|March 1, 2021||$ 12,60,000||X||10/12||=||$ 10,50,000|
|June 30, 2021||$ 14,60,000||X||6/12||=||$ 7,30,000|
|October 1, 2021||$ 12,60,000||X||3/12||=||$ 3,15,000|
|$ 56,60,000||$ 37,75,000|
|Interest Capitalized in 2021|
|$ 37,75,000||X||12.00%||=||$ 4,53,000|
|Expenditure for 2022|
|Jan 1, 2022 ($5660000+$453000)||$ 61,13,000||X||9/9||=||$ 61,13,000|
|Jan 31, 2022||$ 3,69,000||X||8/9||=||$ 3,28,000|
|April 30, 2022||$ 7,02,000||X||5/9||=||$ 3,90,000|
|August 31. 2022||$ 9,99,000||X||1/9||=||$ 1,11,000|
|$ 81,83,000||$ 69,42,000|
|Interest Capitalized in 2020|
|Less:||$ 40,00,000||X||12.00%||X 9/12||=||$ 3,60,000|
|$ 29,42,000||X||9.40%||X 9/12||=||$ 2,07,411|
|Interest Capitalized in 2020||=||$ 5,67,411|
|Weighted Average rate of all debt:-|
|$ 30,00,000||X||8%||=||$ 2,40,000|
|$ 70,00,000||X||10%||=||$ 7,00,000|
|$ 1,00,00,000||$ 9,40,000|
|Weighted Average rate of all debt =||9.40%|
|Interest Expense for 2021:|
|Total Interest Incurred||($4000000*12%)+($3000000*8%)+($7000000*10%)||=||$ 14,20,000|
|Less : Interest Capitalized||=||$ 4,53,000|
|2021 Expense||=||$ 9,67,000|
|Interest Expense for 2022:|
|Total Interest Incurred||=||$ 14,20,000|
|Less : Interest Capitalized||=||$ 5,67,411|
|2022 Expense||=||$ 8,52,589|
|Cost of Building|
|Expenditure for 2021||=||$ 56,60,000|
|Interest Capitalized in 2021||=||$ 4,53,000|
|Expenditure for 2022||=||$ 20,70,000|
|Interest Capitalized in 2022||=||$ 5,67,411|
|Cost of Building||=||$ 87,50,411|
Similar Solved Questions
Orion Corporation has established the following standards for the prime costs of one unit of its chief product, dartboards. Direct material Direct labor Total Standard Quantity 7.00 pounds 1.50 hour Standard Price or Rate $2.30 per pound $5.00 per hour Standard Cost $ 16.10 7.50 $ 23.60 During June,...
QUESTION 21 During April 2020, a company had the following transactions: Credit sales of $2,400 (cost...
QUESTION 21 During April 2020, a company had the following transactions: Credit sales of $2,400 (cost of goods sold $1,000). Received $300 from a customer for services that will be provided in May. Purchased inventory for $4,500, paid $2,700 and the rest will be paid in 30 days. Purchased and paid $...
on oth part e Detail Submission Grade Part 1. Population aging: . What is population aging and how does it affect the age structure of a population? What demographic processes produce population aging? Summarized the evidence for population aging in the U.S Part 2. Select a country other than the U....
Cross Rates At today's spot exchange rates 1 U.S. dollar can be exchanged for 12 Mexican pesos or for 110.32 Japanese yen. You have pesos that you would like to exchange for yen. What is the cross rate between the yen and the peso; that is, how many yen would you receive for every peso exchanged...
LO 2.2Forest Company had the following transactions during the month of December. What is the December...
LO 2.2Forest Company had the following transactions during the month of December. What is the December 31 cash balance? Cash sales Payments for inventory Investments by owners Supplies used Cash withdrawals Inventory received Wages paid Cash balance Dec. 1 $3,250 1,760 3,000 175 260 2,500 2,390 4,2...
Northwood Company manufactures basketballs. The company has a ball that sells for $25. At present, the...
Northwood Company manufactures basketballs. The company has a ball that sells for $25. At present, the ball is manufactured in a small plant that relies heavily on direct labor workers. Thus, variable expenses are high, totaling $15.00 per ball, of which 60% is direct labor cost. Last year, the comp...
Q.1 Solve the following differential equation in MATLAB using solver ‘ode45’ dy/dt = 2t Solve this...
Q.1 Solve the following differential equation in MATLAB using solver ‘ode45’ dy/dt = 2t Solve this equation for the time interval [0 10] with a step size of 0.2 and the initial condition is 0....
R 014 1)2 = Ovi 1) In this circuit, 11 = 520 A, R1 = 43 12, Zc = -1892, V1 = 14.92-60.2, R2 = 28 , ZL = j2.502, and V2 = 14.92-60.2. Write the mesh equation for Ic. What is the total impedance that is used in this equation? Express this impedance in rectangular form X = a +jb, and enter your answer ...
Please show all work a) (7.5 points) Calculate the pH of a sample of river water in which [HCO, is 1.4 x 104M and the concentration of dissolved CO2 (which is maintained constant by equilibration with atmospheric CO2) is 14x 103M. (pKa for the Co,/Hco, Ico,2" system is 6.37.)...
please answer both for a good review. thanks An object is located at a distance of 7.00 cm from a thin lens with a radius of curvature of 66.0 mm. The image of the object is inverted. Is the image real or virtual, and how far is the image from the lens? Real, 6 24 cm o Virtual, 6 24 cm Real 116 cm...
The Damon family owns a large grape vineyard in western New York along Lake Erie. The grapevines must be sprayed at the beginning of the growing season to protect against various insects and diseases. Two new insecticides have just been marketed: Pernod 5 and Action. To test their effectiveness, thr...
What is the purpose of the Streak Plate Method? Select one: a. Too produce a higher concentration of colonies b. Too produce a mixture of colonies c. To be able to identify individual bacterial colonies d. All of the answers are correct...
Python 3.7.2 (Please comment on code and post screenshot of your source code. Thanks) class1: Part 1 You just finished administering the final exam for all of the students in the "Introduction t...
Python 3.7.2 (Please comment on code and post screenshot of your source code. Thanks) class1: Part 1 You just finished administering the final exam for all of the students in the "Introduction to Computer Programming classes this semester. The exam was a 25 question multiple choice exam, and i...
Tesla 2016 10-K Required: Answer the following questions based on your examination of the Tesla, Inc....
Tesla 2016 10-K Required: Answer the following questions based on your examination of the Tesla, Inc. 2016 10-K Note that some questions pertain to fiscal year 2016 and others pertain to fiscal year 2015; please carefully read each question ( Tesla, Inc. 2016 10-K ) is ...
What is the slope of the line represented by the equation #4x+3y = 12#?...
2. Describe how to use food labels to help make healthy eating decisions. 3. Draw and label a personal MyPyramid indicating the appropriate number of servings from each food group. 4. Review the Dietary Guidelines for Americans, and describe how they promote health. 5. Identify dietary choices that ...