Armstrong Co. has a book value of $ 60,000 and a fair value of $ 57,000. Boot of $ 12,000 is received by Armstrong Co.
What amount should Glen Inc. record for the asset received?
31) Arlington Company is constructing a building. Construction began on January 1 and was completed on December 31. Expenditures were $ 4,800,000 on March 1, $ 3,960,000 on June 1, and $ 6,000,000 on December 31. Arlington Company borrowed $ 2,400,000 on January 1 on a 5-year, 12 % note to help finance construction of the building. In addition, the company had outstanding all year a 10 %, 3-year, $ 4,800,000 note payable and an 11 %, 4-year, $ 9,000,000 note payable.
What is the weighted-average interest rate used for interest capitalization purposes?
32) Arlington Company is constructing a building. Construction began on January 1 and was completed on December 31. Expenditures were $ 4,800,000 on March 1, $ 3,960,000 on June 1, and $ 6,000,000 on December 31. Arlington Company borrowed $ 2,400,000 on January 1 on a 5-year, 12 % note to help finance construction of the building. In addition, the company had outstanding all year a 10 %, 3-year, $ 4,800,000 note payable and an 11 %, 4-year, $ 9,000,000 note payable.
What is the weighted-average interest rate used for interest capitalization purposes?
33) Assets that qualify for interest cost capitalization include
34) Arlington Company is constructing a building. Construction began on January 1 and was completed on December 31. Expenditures were $ 4,800,000 on March 1, $ 3,960,000 on June 1, and $ 6,000,000 on December 31. Arlington Company borrowed $ 2,400,000 on January 1 on a 5-year, 12 % note to help finance