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ABC Company started construction of a warchouse for its own use during Year 1 and...

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Accounting

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ABC Company started construction of a warchouse for its own use during Year 1 and made the following expenditures during Year 1 (Constriction was completed 5/31/Y Car 2): March 1 - Paymert to Contractor $600,000 March 31 - Payment to Contractor $300,000 Jaly 1 - Payment to Contractor $800,000 October 31 - Payment to Contractor $300,000 December 31 Payment to Contractor $600,000 During the construction period. ABC has the following debt obligations outstanding for all of Year 1 and Year 2 1. What are the weighted average accumulated expenditures for Year 1? 2. How much is the avoidable interest using cach of the following methods? 3. How much interest was incurred on the debt in Year 1 ? 4. How much is the interest expense on the Year 1 income statement using the specific interest methe 5. What is the balance of the warchouse account on the 12/31/Yr I balance sheet using the specifie method

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