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1. Jones Company is constructing a building for their personal use. Construction began on January...

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Accounting

1. Jones Company is constructing a building for their personal use. Construction began on January 1 and was completed on December 31. Expenditures were $1,800,000 on February 1, $1,200,000 on June 1 and $3,000,000 on December 31st. Compute Jones Company weighted-average accumulated expenditures for interest capitalization purposes.

2. Jones Company had outstanding all year a 10%, 5 year, $2,000,000 note payable and an 11%, 4-year, $3,500,000 note payable. Compute avoidable interest for Jones Company. Remember to include the calculation of actual interest in your answer.

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