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On January 1, 2013, the Mason Manufacturing Company began construction of a building to be used as its office headquarters. The building was completed on September 30, 2014.
On January 1, 2013, the company obtained a $3 million construction loan with a 12% interest rate. The loan was outstanding all of 2013 and 2014. The company's other interest-bearing debt included two long-term notes of $5,600,000 and $7,600,000 with interest rates of 8% and 10%, respectively. Both notes were outstanding during all of 2013 and 2014. Interest is paid annually on all debt. The company's fiscal year-end is December 31.
Calculate the amount of interest that Mason should capitalize in 2013 and 2014 using the weighted-average method. (Do not round intermediate calculations. Round the weighted average rate to 4 decimal places (e.g. 0.54321 to 54.32%). Enter your answers in dollars not in millions. Round your answers to the nearest dollar amount.)
What is the total cost of the building? (Do not round intermediate calculations. Round the weighted average rate to 4 decimal places (e.g. 0.54321 to 54.32%). Enter your answer in dollars not in millions. Round your answer to the nearest dollar amount.)
Calculate the amount of interest expense that will appear in the 2013 and 2014 income statements.(Do not round intermediate calculations. Round the weighted average rate to 4 decimal places (e.g. 0.54321 to 54.32%). Enter your answers in dollars not in millions. Round your answers to the nearest dollar amount.)
As of December 31, 2010, Nilsen Industries had $2,000 of raw materials inventory. At the beginning of 2010, there was $1,600 of materials on hand.
The expected life and salvage value each are four years and $15,000 respectively. Lake Shuttle has an average cost of capital of 14%. A. Calculate the net present value of the investment opportunity.
Given the acquisition cost of product Z is $32.00, the net realizable value for product Z is $29.00, the normal profit for product Z is $2.50, and the market value (replacement cost) for product Z is $30.00, what is the proper per unit inventory p..
Operating profit in the wasted raw materials scenario is only $100,000 lower than in table. Explain to the president why operating profit is only $100,000 lower.
Compute the next present value of each project. Which project should be adopted based on the next present value approach? Compute the approximate internal rate of return of each project. Which one should be adopted based on the internal rate of retu..
what are the calculations for direct materials direct labor mfg overhead total mfg cost begninning work in process
Define interperiod income tax allocation and briefly explain the three methods that have been advocated. Conclude by summarizing the generally accepted accounting principles for interperiod income tax allocation.
Enron Corporation was a darling in the energy-provider arena, and in January 2001 its stock price rose above $100 per share. A collapse of investor confidence in 2001 and revelations of accounting irregularities led to one of the largest bankr..
All calculations clearly and explaining your answers where necessary.
On December 31, 2010, Krypton reported a net income of $735,000 for the year. National Star uses the equity method in accounting for its investment in Krypton Labs.
Determination of Beneficiary's Income. A trust is authorized to make discretionary distributions of income and principal to its two beneficiaries, Roy and Sandy.
Phyllis believes that the firm should use straight-line depreciation for a capital project because it results in higher net income during the early years of the project's life.
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