Business, 03.12.2021 04:30 gabbytumey

On January 1, 2020, Sheffield, Inc. signed a fixed-price contract to have Builder Associates construct a major plant facility at a cost of $4,491,000. It was estimated that it would take 3 years to complete the project. Also on January 1, 2020, to finance the construction cost, Sheffield borrowed $4,491,000 payable in 10 annual installments of $449,100, plus interest at the rate of 10%. During 2020, Sheffield made deposit and progress payments totaling $1,684,125 under the contract; the weighted-average amount of accumulated expenditures was $898,200 for the year. The excess borrowed funds were invested in short-term securities, from which Sheffield realized investment income of $261,100. What amount should Sheffield report as capitalized interest at December 31, 2020

Answers: 3

Show answers

Another question on Business

Business, 22.06.2019 08:50

Suppose that in an economy the structural unemployment rate is 2.2 percent, the natural unemployment rate is 5.3 percent, and the cyclical unemployment rate is 2 percent. the frictional unemployment rate is percent and the actual unemployment rate (in this economy) is percent.

Answers: 2

Answer

Business, 22.06.2019 10:20

Blue spruce corp. has the following transactions during august of the current year. aug. 1 issues shares of common stock to investors in exchange for $10,170. 4 pays insurance in advance for 3 months, $1,720. 16 receives $710 from clients for services rendered. 27 pays the secretary $740 salary. indicate the basic analysis and the debit-credit analysis.

Answers: 1

Answer

Business, 22.06.2019 16:00

Arnold rossiter is a 40-year-old employee of the barrington company who will retire at age 60 and expects to live to age 75. the firm has promised a retirement income of $20,000 at the end of each year following retirement until death. the firm's pension fund is expected to earn 7 percent annually on its assets and the firm uses 7% to discount pension benefits. what is barrington's annual pension contribution to the nearest dollar for mr. rossiter? (assume certainty and end-of-year cash flows.)

Answers: 2

Answer

Business, 22.06.2019 20:20

Faldo corp sells on terms that allow customers 45 days to pay for merchandise. its sales last year were $325,000, and its year-end receivables were $60,000. if its dso is less than the 45-day credit period, then customers are paying on time. otherwise, they are paying late. by how much are customers paying early or late? base your answer on this equation: dso - credit period = days early or late, and use a 365-day year when calculating the dso. a positive answer indicates late payments, while a negative answer indicates early payments.a. 21.27b. 22.38c. 23.50d. 24.68e. 25.91b

Answers: 2

Answer

You know the right answer?

On January 1, 2020, Sheffield, Inc. signed a fixed-price contract to have Builder Associates constru...

Questions