Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. show attempt history current attempt in progress p

Show Attempt History Current Attempt in Progress Pronghorn Company is constructing building Construction began on...

80.2K

Verified Solution

Question

Accounting

image
Show Attempt History Current Attempt in Progress Pronghorn Company is constructing building Construction began on February 1 and was completed on December 31 Expenditures were $3.420,000 on March 1, 52,280,000 on June 1, and $5.700,000 on December 31. Pronghorn Company borrowed $1,900,000 on March 1 ona 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, 56,650,000 note payable. Compute avoidable interest for Pronyhorn Company. Use the weighted average interest rate for interest capitalizati purposes. (Round "Weighted average Interest rate" to 4 decimal places, 6.8.0.2152 and final answer to decimal places, c. 5.275.) Avoidable interests I e Textbook and Media Assistance Us e Textbook Save for Later Attempts: 2 of 3 used Submit Answ hp backspace home enter

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students