Amount of interest costs, Question: What amount of interest costs should be allocated to, Accounting Basics

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Amount of interest costs

Problem:

The Hassan Corporation has an electric mixer division and an electric lamp division. Of a $50,000,000 bond issuance, the electric mixer division used $24,000,000 and the electric lamp division used $26,000,000 for expansion. Interest costs on the bond totaled $1,500,000 for the year.

Required:

Question: What amount of interest costs should be allocated to the electric mixer division?

Note: Please show basic calculation

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Accounting Basics: Amount of interest costs

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Accounting Basics: Amount of interest costs

Reference No:- TGS0891192

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Accounting Basics: Amount of interest costs

Reference No:- TGS0891192

Recent Questions Asked Accounting Basics

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