What amount should clermont report as capitalized interest, Accounting Basics

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What amount should clermont report as capitalized interest

Clermont Company started construction of a new office building on january 1,2000, and moved into the finished building on July 1, 2002. Of the building's $2,500,000 was incurred by 12/31/2000 in even increments throughout the year. Clermont's weighted average borrowing rate was 12% throughout 2000, and the actual amount of interest incurred by Clermont during 2000 was $135,000. what amount should Clermont report as capitalized interest at 12/31/2000?

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Accounting Basics: What amount should clermont report as capitalized interest

Reference No:- TGS083775

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Recent Questions Asked Accounting Basics

Q : What should be cost of goods sold under fifo

Q : What is the lower of cost or market for product w

Q : When is a court required to use long-arm jurisdiction.

Q : Classes specifying which students can take which classes

Q : What amount should clermont report as capitalized interest

Q : Granting specific system permission controls

Q : What the capitalized cost is

Q : Four elements exist in somewhat different forms on internet

Q : Goal of maximizing shareholder wealth forms the basis

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Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: What amount should clermont report as capitalized interest

Reference No:- TGS083775

Recent Questions Asked Accounting Basics

Q : What should be cost of goods sold under fifo

Q : What is the lower of cost or market for product w

Q : When is a court required to use long-arm jurisdiction.

Q : Classes specifying which students can take which classes

Q : What amount should clermont report as capitalized interest

Q : Granting specific system permission controls

Q : What the capitalized cost is

Q : Four elements exist in somewhat different forms on internet

Q : Goal of maximizing shareholder wealth forms the basis

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