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  • Matrix Inc Borrowed 1 000 000 at 8 To Finance The

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    Hassan Jan
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    Matrix Inc. borrowed $1,000,000 at 8% interest to finance the construction of a new building from January 1, 2016 to October 31, 2016. Construction costs totaled $1,258,000 and were incurred on January 1, May 1, July 1, and October 31. Matrix also had additional debt of $500,000 at 9% interest and $800,000 at 10% interest, all outstanding for the entire year.

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    Matrix Inc Borrowed 1 000 000 at 8 to Finance The

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    Matrix Inc. borrowed $1,000,000 at 8% interest to finance the construction of a new building from January 1, 2016 to October 31, 2016. Construction costs totaled $1,258,000 and were incurred on January 1, May 1, July 1, and October 31. Matrix also had additional debt of $500,000 at 9% interest and $800,000 at 10% interest, all outstanding for the entire year.

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    12 views1 page

    Matrix Inc Borrowed 1 000 000 at 8 To Finance The

    Uploaded by

    Hassan Jan
    Matrix Inc. borrowed $1,000,000 at 8% interest to finance the construction of a new building from January 1, 2016 to October 31, 2016. Construction costs totaled $1,258,000 and were incurred on January 1, May 1, July 1, and October 31. Matrix also had additional debt of $500,000 at 9% interest and $800,000 at 10% interest, all outstanding for the entire year.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    Matrix Inc borrowed 1 000 000 at 8 to finance the #2491

    Matrix Inc. borrowed $ 1,000,000 at 8% to finance the construction of a new building for its own
    use. Construction began on January 1, 2016, and was completed on October 31, 2016.
    Expenditures related to this building were:January 1...... $ 252,000 (includes cost of purchasing
    land of $ 150,000)May 1........ 310,000July 1......... 420,000October 31...... 276,000In addition,
    Matrix had additional debt ( unrelated to the construction) of $ 500,000 at 9% and $ 800,000 at
    10%. All debt was outstanding for the entire year.Required:1. Compute the amount of interest
    capitalized related to the construction of the building. 2. If the expenditures are assumed to
    have been incurred evenly throughout the year, compute weighted average accumulated
    expenditures and the amount of interest capitalized on the building.View Solution:
    Matrix Inc borrowed 1 000 000 at 8 to finance the

    ANSWER
    http://paperinstant.com/downloads/matrix-inc-borrowed-1-000-000-at-8-to-finance-the/

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