Reference no: EM131118068
Capitalization of Interest On December 31, 2009, Hurston Inc. borrowed $3,000,000 at 12% payable annually to finance the construction of a new building. In 2010, the company made the following expenditures related to this building: March 1, $360,000; June 1, $600,000; July 1, $1,500,000; December 1, $1,200,000. Additional information is provided as follows.
1. Other debt outstanding
10-year, 11% bond, December 31, 2003, interest payable annually $4,000,000
6-year, 10% note, dated December 31, 2007, interest payable annually $1,600,000
2. March 1, 2010, expenditure included land costs of $150,000
3. Interest revenue earned in 2010 $49,000
(a) Determine the amount of interest to be capitalized in 2010 in relation to the construction of the building.
(b) Prepare the journal entry to record the capitalization of interest and the recognition of interest expense, if any, at December 31, 2010.
|
Determine the standard enthalpy change
: Determine the standard enthalpy change for the vaporization of that substance. The change in molar volume at the normal boiling point is 20.45 L/mol.
|
|
In the market for breakfast cereal
: QUESTION 1 In the market for breakfast cereal, the market is currently in equilibrium. Suddenly there is a storm that destroys the wheat that farmers had been growing for the cereal manufacturer.
|
|
Pollutants that destroy the ozone layer
: n easy to understand language identify at least two pollutants that destroy the ozone layer. Discuss the origination of these pollutants and a plan for reduction.
|
|
Do the values that you found confirm your expectations
: Do the values that you found confirm your expectations as to the different rates of return for the three types of investments?"
|
|
Capitalization of interest on december
: Capitalization of Interest On December 31, 2009, Hurston Inc. borrowed $3,000,000 at 12% payable annually to finance the construction of a new building.
|
|
Compare and contrast the characters of odysseus
: Compare and contrast the characters of Odysseus and his companions and those of Ulysses Everett McGill, Pete and Delmar. Does the 'journey' of Ulysses preserve the essential meaning of the journey of Odysseus in the Homeric epic?
|
|
Discuss the importance of the calculation and interpretation
: Discuss the importance of the calculation and interpretation of ratios, to complete an effective financial ratio analysis.
|
|
Create a scene as shown below with a blimp
: Create a scene as shown below with a blimp (Vehicle) and a dragon (Medieval). In this fantasy scene, the dragon has found a blimp and is curious. The dragon flies around the blimp to check it out. Write a program to have the dragon move to the bli..
|
|
Would you have included more and different variables
: Determine what question(s) the authors are trying to answer through this research. Determine the hypothesis being tested and the concepts that were applied in this process. Evaluate the article and critique the statistical analysis employed in the st..
|