Sheffield Company is constructing a building. Construction began on February 1 and was completed on December 31. Expenditures were $1,992,000 on March 1, $1,272,000 on June 1, and $3,029,260 on December 31. Compute Sheffield's weighted-average accumulated expenditures for interest capitalization purposes. Weighted-average accumulated expenditures $
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- Metlock Inc. is constructing a building. Construction began on March 1 and was completed on December 31. Expenditures were $624,000 on March 1, $832,000 on July 1, and $748,800 on December 1. Compute Metlock's weighted-average accumulated expenditures for interest capitalization purposes. Weighted-Average Accumulated Expenditures $Larkspur Inc. is constructing a building. Construction began on March 1 and was completed on December 31. Expenditures were $732,000 on March 1, $976,000 on July 1, and $878,400 on December 1. Compute Larkspur's weighted-average accumulated expenditures for interest capitalization purposes. Weighted-Average Accumulated Expenditures %24Marin Company is constructing a building. Construction began on February 1 and was completed on December 31. Expenditures were $1,800,000 on March 1, $1,200,000 on June 1, and $3,010,680 on December 31. Compute Marin's weighted-average accumulated expenditures for interest capitalization purposes. Weighted-Average Accumulated Expenditures $4 eTextbook and Media
- On April 1, Paine Co. began construction of a small building. Payments of P120,000 were made monthly for four months beginning on April 1. The building was completed and ready for occupancy on August 1. For the purpose of determining the amount of interest cost to be capitalized, calculate the weighted-average accumulated expenditures on the building by completing the schedule below: Date Expenditures Capitalization Period Weighted-Average Expenditures _____ _____ _____ _____ _____ _____ _____ _____ _____ _____ _____ _____ _____ _____ _____ _____ _____On March 1, Morgan Co. began construction of a small building. Payments of $120,000 were made monthly for three months beginning March 1. The building was completed and ready for occupancy on June 1. In determining the amount of interest cost to be capitalized, the weighted-average accumulated expenditures are $Using the following information, determine the net operating income (NOI) for the first year of operations of the subject property using "above-line" treatment of capital expenditures. Subject Property Number of apartments Market rent (per month) Vacancy and collection losses Operating expenses Capital expenditures O $135,000 $162,000 $137.700 $153,900 15 1000 10% of PGI 5% of EGI 10% of EGI
- answer in text form please (without image), Note: .Every entry should have narration please Computing and Recording Interest Capitalization Bullock Company is constructing a building for its own use and has been capitalizing interest based on average expenditures on a quarterly basis since the project began last year. The following expenditures are made during the first quarter: January 1, $1,960,000; February 1, $1,785,000; and March 31, $2,555,000. Bullock had the following debts outstanding during this quarter. Debt Amount Note payable, 10%, incurred specifically to finance construction $1,120,000 Short-term note payable, 15% 1,750,000 Mortgage note payable, 8% 840,000 Answer the following questions, rounding your answers to the nearest whole number.a. Compute interest to be capitalized and interest to be expensed for this first quarter. Amount of interest to be capitalized Amount of interest to expense b. Prepare the entry to record the…On May 1, 2020, Goodman Company began construction of a building. Expenditures of $600,000 were incurred monthly for 5 months beginning on May 1. The building was completed and ready for occupancy on September 1, 2020. For the purpose of determining the amount of interest cost to be capitalized, the weighted-average accumulated expenditures on the building during 2020 were?Weighted average accumulated expenditures are $400,000 on a project for which work steadily progressed during the current year. The following debt was outstanding during the current year. Construction loan $100,000 at 10% Note payable $500,000 at 8% Mortgage payable $150,000 at 12% a. Compute the weighted average interest rate on the general debt. Calculation of weighted average interest rate Numerator Denominator = Rate General Debt $ Debt Category 0 b. Calculate avoidable interest for the purpose of interest capitalization. Note: Use the interest rate calculated above EXACTLY as shown in your calculations below. . Note: Round dollar amounts to the nearest whole dollar. Specific Debt $ General Debt Calculation of Avoidable Interest Weighted Average $ $ Accumulated Expenditures 0 0 0 Interest Rate Avoidable 0% $ 0% LA $ Interest % 0 0 0
- On May 1, 2020, Vaughn Manufacturing began construction of a building. Expenditures of $620400 were incurred monthly for 5 months beginning on May 1. The building was completed and ready for occupancy on September 1, 2020. For the purpose of determining the amount of interest cost to be capitalized, the weighted-average accumulated expenditures on the building during 2020 were O $2481600. O $3102000. O $517000. O $620400.Sheridan Company is constructing a building. Construction began on February 1 and was completed on December 31. Expenditures were $1,872,000 on March 1, $1,272,000 on June 1, and $3,047,000 on December 31. Sheridan Company borrowed $1,008,000 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 9%, 5-year, $2.398,000 note payable and an 10%, 4-year. $3,715,000 note payable. Compute avoidable interest for Sheridan Company. Use the weighted-average interest rate for interest capitalization purposes. (Round weighted-average interest rate to 4 decimal places, e.g. 0.2152 and final answer to O decimal places, e.g. 5,275.) Avoidable interestVaughn Company is constructing a building. Construction began on February 1 and was completed on December 31. Expenditures were $1,968,000 on March 1, $1,248,000 on June 1, and $3,046,000 on December 31. Vaughn Company borrowed $1,086,000 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 9%, 5-year, $2,448,000 note payable and an 10%, 4-year, $3,546,000 note payable. Compute avoidable interest for Vaughn Company. Use the weighted-average interest rate for interest capitalization purposes. (Round weighted- average interest rate to 4 decimal places, e.g. 0.2152 and final answer to O decimal places, e.g. 5,275.) Avoidable interest $