# Help please O t 2018, the Mason Manufacturing Company began construction of a building to be...

###### Question:

help please O t 2018, the Mason Manufacturing Company began construction of a building to be used as its office en The bug was completed on September 30, 2019 Expenditures on the project were as follows: G . January 1, 2018 March 1, 2018 June 10, 2018 October 1, 2018 January 31, 2019 April , 2019 August 31, 2019 51,070,000 340,000 380,000 710,000 1,170,000 1,485,000 2,700,000 On January 1, 2018, the company obtained a $3 million construction loan with a 14% Interest rate. The loan was outstanding all of 2018 and 2019. The company's other interest-bearing debt included two long-term notes of$6,000,000 and 58,000,000 with interest rates of 8% and 10%, respectively. Both notes were outstanding during all of 2018 and 2019. Interest is paid annually on all debt. The company's fiscal year-end is December 31. Assume the $3 million loan is not specifically tied to construction of the building. Required: 1. Calculate the amount of interest that Mason should capitalize in 2018 and 2019 using the weighted average method. 2. What is the total cost of the building? 3. Calculate the amount of interest expense that will appear in the 2018 and 2019 income statements 2. Calculate the amount of interest expense that appear in the 201 2 < Prev 2013 Next > On January 2018, the company ined a 3 m on construction loan with a 13 interest rate. The loan was outstanding all of 2018 and 2019. The company's other interest-bearing debt included two long term notes of$6.000.000 and 58.000.000 with interest rates of 8 and 10% respectively. Both notes were outstanding during all of 2018 and 2019 interest is paid annually on all debt. The company's fiscal year-end is December 31. Assume the $3 million loan not specifically tied to construction of the building Required: 1. Calculate the amount of interest that Mason should capitalize in 2018 and 2019 using the weighted average method 2. What is the total cost of the building? 3. Calculate the amount of interest expense that will appear in the 2018 and 2019 income statements Complete this question by entering your answers in the tabs below. Reg 1 and 3 Reg 2 Calculate the amount of interest that Mason should capitalize in 2018 and 2019 using the weighted average method and interest expense that will appear in the 2018 and 2019 income statements. (Do not round your intermediate calculations. Round your answers to the nearest whole dollar.) 2018 2019 Interest capitalized Interest expense 2. Calculate the amount of interest expense that appear in the 201 2 < Prev 2 3 III Next > On January 2018, the company obtained a m on construction loan with a 13 interest rate. The loan was outstanding all of 2018 and 2019. The company's other interest-bearing debt included two long term notes of$6.000 000 and $8.000.000 with interest rates of B and 10% respectively. Both notes were outstanding during all of 2018 and 2019 interest is paid annually on all debt. The company's fiscal year end is December 31. Assume the$3 million loans not specifically tied to construction of the building Required: 1. Calculate the amount of interest that Mason should capitalize in 2018 and 2019 using the weighted average method 2. What is the total cost of the building? 3. Calculate the amount of interest expense that will appear in the 2018 and 2019 income statements Complete this question by entering your answers in the tabs below. Reg 1 and ) Reg 2 Calculate the amount of interest that Mason should capitalize in 2018 and 2019 using the weighted average method and interest expense that will appear in the 2018 and 2019 income statements. (Do not round your intermediate calculations. Round your answers to the nearest whole dollar.) 2018 2019 Interest capitalized Interest expense

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