On January 2, 2012, Indian River Groves began construction of a new citrus processing plant....
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On January 2, 2012, Indian River Groves began construction of a new citrus processing plant. The automated plant was finished and ready for use on September 30, 2013. Expenditures for the construction were as follows: January 2, 2012 $300,000 September 1, 2012 900,000 December 31, 2012 900,000 March 31, 2013 900,000 September 30, 2013 600.000 Indian River Groves borrowed $1,650,000 on a construction loan at 12% interest on January 2, 2012. This loan was outstanding during the construction period. The company also had $6,000,000 in 9% bonds outstanding in 2012 and 2013. 7182. What were the weighted-average accumulated expenditures for 2012? a $800,000 b. $750,000 c. $600,000 d. $1,500,000 7283. The interest capitalized for 2012 was: a. $270,000 b. $72,000 c. $228,000 d. $90,000
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