Question

Flounder Company is constructing a building. Construction began on February 1 and was completed on December...

Flounder Company is constructing a building. Construction began on February 1 and was completed on December 31. Expenditures were $2,052,000 on March 1, $1,200,000 on June 1, and $3,003,300 on December 31. Flounder Company borrowed $1,034,800 on March 1 on a 5-year, 13% note to help finance construction of the building. In addition, the company had outstanding all year a 10%, 5-year, $2,316,100 note payable and an 11%, 4-year, $3,193,700 note payable. Compute avoidable interest for Flounder Company. Use the weighted-average interest rate for interest capitalization purposes. (Round percentages to 2 decimal places, e.g. 2.51% and final answer to 0 decimal places, e.g. 5,275.) Avoidable interest $enter the avoidable interest in dollars rounded to 0 decimal places

Homework Answers

Answer #1

Hi

Let me know in case you face any issue:

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Sandhill Company is constructing a building. Construction began on February 1 and was completed on December...
Sandhill Company is constructing a building. Construction began on February 1 and was completed on December 31. Expenditures were $1,908,000 on March 1, $1,308,000 on June 1, and $3,010,600 on December 31. Sandhill Company borrowed $1,015,500 on March 1 on a 5-year, 13% note to help finance construction of the building. In addition, the company had outstanding all year a 10%, 5-year, $2,195,200 note payable and an 11%, 4-year, $3,604,500 note payable. Compute avoidable interest for Sandhill Company. Use the...
Bridgeport Company is constructing a building. Construction began on February 1 and was completed on December...
Bridgeport Company is constructing a building. Construction began on February 1 and was completed on December 31. Expenditures were $1,992,000 on March 1, $1,272,000 on June 1, and $3,046,000 on December 31. Bridgeport Company borrowed $1,116,000 on March 1 on a 5-year, 13% note to help finance construction of the building. In addition, the company had outstanding all year a 9%, 5-year, $2,383,000 note payable and an 10%, 4-year, $3,634,300 note payable. Compute avoidable interest for Bridgeport Company. Use the...
Wildhorse Company is constructing a building. Construction began on February 1 and was completed on December...
Wildhorse Company is constructing a building. Construction began on February 1 and was completed on December 31. Expenditures were $1,944,000 on March 1, $1,224,000 on June 1, and $3,032,200 on December 31. Wildhorse Company borrowed $1,016,400 on March 1 on a 5-year, 13% note to help finance construction of the building. In addition, the company had outstanding all year a 9%, 5-year, $2,206,100 note payable and an 10%, 4-year, $3,702,000 note payable. Compute avoidable interest for Wildhorse Company. Use the...
Blue Company is constructing a building. Construction began on February 1 and was completed on December...
Blue Company is constructing a building. Construction began on February 1 and was completed on December 31. Expenditures were $1,812,000 on March 1, $1,212,000 on June 1, and $3,014,300 on December 31. Blue Company borrowed $1,070,800 on March 1 on a 5-year, 12% note to help finance construction of the building. In addition, the company had outstanding all year a 10%, 5-year, $2,030,800 note payable and an 11%, 4-year, $3,170,100 note payable. Compute avoidable interest for Blue Company. Use the...
Bonita Company is constructing a building. Construction began on February 1 and was completed on December...
Bonita Company is constructing a building. Construction began on February 1 and was completed on December 31. Expenditures were $2,160,000 on March 1, $1,440,000 on June 1, and $3,600,000 on December 31. Bonita Company borrowed $1,200,000 on March 1 on a 5-year, 10% note to help finance construction of the building. In addition, the company had outstanding all year a 12%, 5-year, $2,400,000 note payable and an 11%, 4-year, $4,200,000 note payable. Compute avoidable interest for Bonita Company. Use the...
Sandhill Company is constructing a building. Construction began on February 1 and was completed on December...
Sandhill Company is constructing a building. Construction began on February 1 and was completed on December 31. Expenditures were $2,700,000 on March 1, $1,800,000 on June 1, and $4,500,000 on December 31. Sandhill Company borrowed $1,500,000 on March 1 on a 5-year, 10% note to help finance construction of the building. In addition, the company had outstanding all year a 12%, 5-year, $3,000,000 note payable and an 11%, 4-year, $5,250,000 note payable. Compute avoidable interest for Sandhill Company. Use the...
V Company is constructing a building. Construction began on February 1 and was completed on December...
V Company is constructing a building. Construction began on February 1 and was completed on December 31. Expenditures were $3,420,000 on March 1, $2,280,000 on June 1, and $5,700,000 on December 31. V Company borrowed $1,900,000 on March 1 on a 5-year, 12% note to help finance construction of the building. In addition, the company had outstanding all year a 10%, 5-year, $3,800,000 note payable and an 11%, 4-year, $6,650,000 note payable. Compute avoidable interest for V Company. Use the...
Crane Company is constructing a building. Construction began on February 1 and was completed on December...
Crane Company is constructing a building. Construction began on February 1 and was completed on December 31. Expenditures were $5,220,000 on March 1, $3,480,000 on June 1, and $8,700,000 on December 31. Crane Company borrowed $2,900,000 on March 1 on a 5-year, 12% note to help finance construction of the building. In addition, the company had outstanding all year a 14%, 5-year, $5,800,000 note payable and an 11%, 4-year, $10,150,000 note payable. Compute avoidable interest for Crane Company. Use the...
Pina Company is constructing a building. Construction began on February 1 and was completed on December...
Pina Company is constructing a building. Construction began on February 1 and was completed on December 31. Expenditures were $4,860,000 on March 1, $3,240,000 on June 1, and $8,100,000 on December 31. Pina Company borrowed $2,700,000 on March 1 on a 5-year, 12% note to help finance construction of the building. In addition, the company had outstanding all year a 10%, 5-year, $5,400,000 note payable and an 11%, 4-year, $9,450,000 note payable. Compute avoidable interest for Pina Company. Use the...
Sarasota Company is constructing a building. Construction began on February 1 and was completed on December...
Sarasota Company is constructing a building. Construction began on February 1 and was completed on December 31. Expenditures were $5,400,000 on March 1, $3,600,000 on June 1, and $9,000,000 on December 31. Sarasota Company borrowed $3,000,000 on March 1 on a 5-year, 10% note to help finance construction of the building. In addition, the company had outstanding all year a 12%, 5-year, $6,000,000 note payable and an 11%, 4-year, $10,500,000 note payable. Compute avoidable interest for Sarasota Company. Use the...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT
Active Questions
  • Identifying Activity Bases in an Activity-Based Cost System Comfort Foods Inc. uses activity-based costing to determine...
    asked 6 minutes ago
  • Solve y'' + 2y' + 4y = 1 subject to y(0) = y'(0) = 0 (differential...
    asked 40 minutes ago
  • A school psychologist wants to know if a popular new hypnosis technique impacts depression. The psychologist...
    asked 49 minutes ago
  • Two identical sedimentation tanks are to be designed for an activated sludge plant with a flow...
    asked 52 minutes ago
  • Hello, could you provide an original example of a security flaw or vulnerability related to strings....
    asked 1 hour ago
  • Let f(x)=5−log(x+1), g(x)=x2−2x−4 and k(x)=5/(x−4). (a) Find (fog)(x)(fog)(x) and its domain using the interval notation. (b)...
    asked 1 hour ago
  • List the main load transfer mechanisms in pile foundation and comment about the optimal spacing of...
    asked 1 hour ago
  • An athlete swings a 6.50-kg ball horizontally on the end of a rope. The ball moves...
    asked 1 hour ago
  • 1. Observation research must be systematic, not casual or haphazard, in its design. True or False...
    asked 2 hours ago
  • "Thinking as skill". Dr. Edward de Bono gave Lateral Thinking its name and developed techniques for...
    asked 2 hours ago
  • Part 1 a) Earned Value Management (EVM) is a project management technique for measuring project performance...
    asked 2 hours ago
  • 11.3.2 Levi-Strauss Co manufactures clothing. The quality control department measures weekly values of different suppliers for...
    asked 2 hours ago