Problem 25-4 (IAA) Molave Company had the following outstanding loans during 2020 and 2021. Specific construction loan General loan 3,000,000 25,000,000 10% 12% The entity began the self-construction...

Problem 25-4 (IAA)<br>Molave Company had the following outstanding loans during<br>2020 and 2021.<br>Specific construction loan<br>General loan<br>3,000,000<br>25,000,000<br>10%<br>12%<br>The entity began the self-construction of a new building on<br>January 1, 209 and the building was completed on June 30,<br>2021. The following expenditures were made:<br>1, 2020<br>1, 2020<br>December 1, 2020<br>1, 2021<br>4,000,000<br>5,000,000<br>3,000,000<br>6,000,000<br>January<br>April<br>March<br>Required:<br>1. Compute the cost of the new building on December 31,<br>2020 and June 30, 2021.<br>2. Compute the interest.expense for 2020 and 2021.<br>

Extracted text: Problem 25-4 (IAA) Molave Company had the following outstanding loans during 2020 and 2021. Specific construction loan General loan 3,000,000 25,000,000 10% 12% The entity began the self-construction of a new building on January 1, 209 and the building was completed on June 30, 2021. The following expenditures were made: 1, 2020 1, 2020 December 1, 2020 1, 2021 4,000,000 5,000,000 3,000,000 6,000,000 January April March Required: 1. Compute the cost of the new building on December 31, 2020 and June 30, 2021. 2. Compute the interest.expense for 2020 and 2021.

Jun 10, 2022

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Problem 25-4 (IAA) Molave Company had the following outstanding loans during 2020 and 2021. Specific construction loan General loan 3,000,000 25,000,000 10% 12% The entity began the self-construction...

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