Amount of interest that agasse would capitalize

Assignment Help Financial Accounting

Reference no: EM131287273

Agasse Industries began construction of a new facility and took out a $1,500,000, 10% construction loan on April 1, 2016. Agasse made payments to the general contractor of $319,000 on April 1, $819,000 on August 31, and $419,000 on December 31. Required: Compute the amount of interest that Agasse would capitalize in 2016. (Do not round intermediate calculations.)

Reference no: EM131287273

Questions Cloud

Funds for transactions-what is the value of holdings : Orbital Communications has operating plants in over 100 countries. It also keeps funds for transactions purposes in many foreign countries. Assume in 2010 it held 220,000 kronas in Norway worth $47,000. The funds drew 14 percent interest, and the kro..

Are they in violation of federal laws : They discussed what each university was going to charge for tuition the following year. Are they in violation of federal laws? Explain your answer.

Describes the behavior of both persons as neutral : How would you describe a familiar but complicated task involving the use of a piece of machinery as if to a foreigner who did not speak the language very well?

Determine f and the angle ? : If the resultant couple acting on the steering mechanism is zero, determine F and the angle θ (the magnitude and direction of the bearing reactions).

Amount of interest that agasse would capitalize : Agasse Industries began construction of a new facility and took out a $1,500,000, 10% construction loan on April 1, 2016. Agasse made payments to the general contractor of $319,000 on April 1, $819,000 on August 31, and $419,000 on December 31. Requi..

Describe the two key indices that codis relies upon : What is CODIS? List and describe the three-tier structure inherent with CODIS. Describe the two key indices that CODIS relies upon. Which index contains the greatest number of DNA profiles? Why?

Determine what the new price should be : The current line, considered mid-range retail, is priced at $20. What steps might you undertake to determine what the new price should be?

Prepare the journal entries for these transactions : Cool Globe Inc. entered into two transactions, as follows: 1. Purchased equipment paying $20,500 down and signed a noninterest-bearing note requiring the balance to be paid in four annual installments of $20,500 on the anniversary date of the contrac..

Independent cases of employee fraud : For each of the following independent cases of employee fraud, recommend how to prevent similar problems in the future: Due to abnormal inventory shrinkage in the audiovisual department at a retail chain store, internal auditors conducted an in-depth..

User Account

All Pages