Make the statement of comprehensive income extract

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Question - Papine Construction Limited acquired a loan for $48 million on 1 January 2017 to begin the construction of a bridge. The loan was acquired from National Commercial Bank at an effective interest rate of 12%. Construction did not begin on the bridge until, 1 April 2017. The company invested $20m of the funds received from the bank over the period 1 January to 30 June 2017 at an interest rate of 8%. During the summer months of July and August 2017 construction on the project was suspended.

REQUIRED - For the year ended 31 December 2017 show the following:

1. Make the Statement of Comprehensive Income Extract for the year?

2. Make the Borrowing cost to be capitalized on the Statement of Financial Position?

Reference no: EM132877729

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