7. (7 points) a building was constructed on land purchased last year at a cost of $150,000. construction began on january 1 and was completed on december 31. the payments to the contractor were as follows. date payment 1/1 $120,000 4/1 320,000 8/1 460,000 10/1 100,000 to finance construction of the building, a $400,000, 12% construction loan was taken out on january 1. the loan was repaid on december 31. the firm had $200,000 of other outstanding debt during the year at a borrowing rate of 8%. determine the amount of interest to be capitalized.

Following are the transactions for valdez services. the company paid $2,000 cash for payment on a 6-month-old account payable for office supplies. the company paid $1,200 cash for the just completed two-week salary of the receptionist. the company paid $39,000 cash for equipment purchased. the company paid $800 cash for this month’s utilities. the company paid $4,500 cash in dividends to the owner (sole shareholder). examine the above transactions and identify those that create expenses for valdez services. prepare general journal entries to record those transactions that created expenses in the above given order.

Which of the following is an example of a monetary policy? a. the government requires credit card companies to protect customers' privacy. b. the government restricts the amount of money that banks can lend. c. the government lowers taxes and increases spending. d. the government pays for repairing damage from a natural disaster.

What type of negotiating strategy requires the supplier to open its books to the purchasers? a. competitive biddingb. cost-based price modelc. price-based modeld. market-based price modele. transparent negotiations