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Provide rational and clarifications of the proper treatment

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Reference no: EM131563674

Problem - Discuss with your team the following case study:

Client X contacted you for clarification and recommendations regarding whether the interest cost on construction of a new warehouse may be included in the cost of the new warehouse.

Write a response of a maximum of seven hundred words to include the following:

  • Provide rational and clarifications of the proper treatment of interest cost under the rules of GAAP.
  • Explain the impact of this interest cost on:
  • Financial statements.
  • Income statement.
  • Balance sheet.
  • Statement of owners' equity.

Reference no: EM131563674

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