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Determine what is the cost of building

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Reference no: EM132626568

Jardine Company had the following loans outstanding during 2010 and 2011

Specific construction loan P2,000,000 15%

General loan 15,000,000 12%

The entity began the self-construction of a building on January 1, 2010 and was completed on August 31, 2011. The following expenditures were made during 2010 and 2011:

January 1, 2010 P2,000,000

July 1, 2010 4,000,000

November 1, 2010 3,000,000

July 1, 2011 1,000,000

P10,000,000

Required:

Problem 1: What is the cost of building?

Reference no: EM132626568

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