On January 1, 2024, a company began construction of a new warehouse. The building was finished and ready for use on September 30, 2025. Expenditures on the project were as follows: January 1, 2024 $ 336,000 September 1, 2024 $ 504,000 December 31, 2024 $ 504,000 March 31, 2025 $ 504,000 September 30, 2025 $ 336,000 The company had $6,800,000 in 10% bonds outstanding through both years. Average accumulated expenditures for 2024 were: Multiple Choice $588,000. $504,000. $336,000. $672,000.
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On January 1, 2024, a company began construction of a new warehouse. The building was finished and ready for use on September 30, 2025. Expenditures on the project were as follows:
| January 1, 2024 | $ 336,000 |
|---|---|
| September 1, 2024 | $ 504,000 |
| December 31, 2024 | $ 504,000 |
| March 31, 2025 | $ 504,000 |
| September 30, 2025 | $ 336,000 |
The company had $6,800,000 in 10% bonds outstanding through both years.
Average accumulated expenditures for 2024 were:
-
$588,000.
-
$504,000.
-
$336,000.
-
$672,000.
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- On January 1, 2024, a company began construction of a new warehouse. The building was finished and ready for use on September 30, 2025. Expenditures on the project were as follows: January 1, 2024 $ 327,000 September 1, 2024 $ 489,000 $ 489,000 December 31, 2024 March 31, 2025 $ 489,000 September 30, 2025 $ 327,000 The company had $6,300,000 in 10% bonds outstanding through both years. Capitalized interest in 2024 was: Multiple Choice O $65,400. O $32,700. O $49,000. $57,175.On January 1, 2021, Dreamworld Co. began construction of a new warehouse. The building was finished and ready for use on September 30, 2022. Expenditures on the project were as follows: $311,000 January 1, 2021 September 1, 2021 $453,000 December 31, 2021 $453,000 March 31, 2022 $453,000 September 30, 2022 $311,000. Dreamworld had $5,100,000 in 10% bonds outstanding through both years. Dreamworld's average accumulated expenditures for 2021 was: Multiple Choice $622,000. $539,750. $311,000On January 1, 2024, the Mason Manufacturing Company began construction of a building to be used as its office headquarters. The building was completed on September 30, 2025. Expenditures on the project were as follows: January 1, 2024 $ 1,040,000March 1, 2024 810,000June 30, 2024 450,000October 1, 2024 700,000January 31, 2025 1,125,000April 30, 2025 1,440,000August 31, 2025 2,610,000On January 1, 2024, the company obtained a $3 million construction loan with a 10% interest rate. Assume the $3 million loan is not specifically tied to construction of the building. The loan was outstanding all of 2024 and 2025. The company’s other interest-bearing debt included two long-term notes of $5,900,000 and $7,900,000 with interest rates of 7% and 9%, respectively. Both notes were outstanding during all of 2024 and 2025. Interest is paid annually on all debt. The company’s fiscal year-end is December 31. Required:Using the WEIGHTED-AVERAGE INTEREST METHOD, answer the following…
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