Montgomery Industries spent $700,000 in 2017 on a construction project to build a library. Montgomery also capitalized $35,000 of interest on the project in 2017, Montgomery financed 100% of the construction with a 12% construction loan The project was completed on September 30, 2018. Additional expenditures in 2018 were as follows: $ 99,000 189,000 45,000 73,000 Feb. 28 Apr. 30 Jul. 1 Sept. 30
Required Determine the completed cost of the library. (Do not round intermediate calculations.) Completed cost of the library 747.960
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Montgomery Industries spent $700,000 in 2017 on a construction project to build a library. Montgomery also capitalized $35,000 of interest ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
What type of activity is the purchase of equipment for cash?
Answers (1)
An industry with a single supplier is known as a
Answers (1)
According to thinking like an economist, what is the difference between a normative and a positive question?
Answers (1)
An internal revenue oversight board survey found that 82% of taxpayers said that it was very important for the internal revenue service (irs) to ensure that high-income tax payers do not cheat on their tax returns (the wall street journal, february
Answers (1)
Sales and excise taxes are levied on retailers, but retailers add these taxes to the prices of their products. this illustrates the:
Answers (1)
New Questions in Business
Marginal analysis involves comparing the additional or extra benefit derived from consuming an additional unit of a product or service to the additional cost of consuming that unit of the product or service. A. True B. False
Answers (1)
Discount-Mart issues $10 million in bonds on January 1, 2012. The bonds have a ten-year term and pay interest semiannually on June 30 and December 31 each year. Below is a partial bond amortization schedule for the bonds.
Answers (1)
Available"" (as in ""measurable and available"") means 1. Available to finance expenditures of the current period 2. Subject to accrual 3. Collectible 4. Available for appropriation
Answers (1)
Which of the following is reported as a financing activity in the statement of cash flows? Multiple Choice The payment of interest on bonds payable. The receipt of dividend revenue. The acquisition of stock for the purpose of retiring it.
Answers (1)
Which one of the following is true concerning manufacturing and merchandising companies' inventories? Entry field with incorrect answer The balance sheet for both types of companies reports one category for inventories.
Answers (1)