55. ABC Company had the following outstanding loans during 20X1 and 20X2. 10% Specific construction loans - 3, 000, 000 12% General Loans - 25, 000, 000 The company began the self-construction of a new building on January 1, 20X1, and the building was completed on June 30, 20X2, the following expenditures were made in 20X1 and 20X2: January 1, 20X1 - 4, 000, 000 April 1, 20X1 - 5, 000, 000 December 1, 20X1 - 3, 000, 000 March 1, 20X2 - 6, 000, 000 What is the cost of the new building on June 30, 20X2
55. ABC Company had the following outstanding loans during 20X1 and 20X2. 10% Specific construction loans - 3, 000, 000 12% General Loans - 25, 000, 000 The company began the self-construction of a new building on January 1, 20X1, and the building was completed on June 30, 20X2, the following expenditures were made in 20X1 and 20X2: January 1, 20X1 - 4, 000, 000 April 1, 20X1 - 5, 000, 000 December 1, 20X1 - 3, 000, 000 March 1, 20X2 - 6, 000, 000 What is the cost of the new building on June 30, 20X2
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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55. ABC Company had the following outstanding loans during 20X1 and 20X2. 10% Specific construction loans - 3, 000, 000 12% General Loans - 25, 000, 000 The company began the self-construction of a new building on January 1, 20X1, and the building was completed on June 30, 20X2, the following expenditures were made in 20X1 and 20X2: January 1, 20X1 - 4, 000, 000 April 1, 20X1 - 5, 000, 000 December 1, 20X1 - 3, 000, 000 March 1, 20X2 - 6, 000, 000 What is the cost of the new building on June 30, 20X2?
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