On June 1, 2020, the Crocus Company began construction of a new manufacturing plant. The plant was completed on October
Posted: Thu May 19, 2022 1:59 pm
On June 1, 2020, the Crocus Company began construction of a new
manufacturing plant. The plant was completed on October 31, 2021.
Expenditures on the project were as follows ($ in millions):
On July 1, 2020, Crocus obtained a $85 million construction loan
with a 6% interest rate. The loan was outstanding through the end
of October, 2021. The company's only other interest-bearing debt
was a long-term note for $100 million with an interest rate of 8%.
This note was outstanding during all of 2020 and 2021. The
company's fiscal year-end is December 31.
In computing the capitalized interest for 2021, Crocus' average
accumulated expenditures are:
manufacturing plant. The plant was completed on October 31, 2021.
Expenditures on the project were as follows ($ in millions):
On July 1, 2020, Crocus obtained a $85 million construction loan
with a 6% interest rate. The loan was outstanding through the end
of October, 2021. The company's only other interest-bearing debt
was a long-term note for $100 million with an interest rate of 8%.
This note was outstanding during all of 2020 and 2021. The
company's fiscal year-end is December 31.
In computing the capitalized interest for 2021, Crocus' average
accumulated expenditures are: