Multiple Choice Question 82
On January 2, 2014, Indian River Groves began construction of a new citrus processing plant. The automated plant was finished and ready for use on September 30, 2015. Expenditures for the
Indian River Groves borrowed $ 2,200,000 on a construction loan at 12 % interest on January 2, 2014. This loan was outstanding during the construction period. The company also had $ 8,000,000 in 9 % bonds outstanding in 2014 and 2015.
What were the weighted-average accumulated expenditures for 2014?
$ 800,000
Multiple Choice Question 50
Accounting recognition should be given to some or all of the gain realized on a nonmonetary exchange of plant assets except when the exchange has