- Hawkins Corporation Began Construction Of A Motel On March 31 2021 The Project Was Completed On April 30 2022 No New 1 (37.05 KiB) Viewed 11 times
Hawkins Corporation began construction of a motel on March 31, 2021. The project was completed on April 30, 2022. No new loans were required to fund construction. Hawkins does have the following two interest-bearing liabilities that were outstanding throughout the construction period: $5,900,000, 6% note $7,660,000, 10% bonds Construction expenditures incurred were as follows: March 31, 2021 June 30, 2021 November 30, 2021 February 28, 2022 $3,190,000 5,190,000 1,638,000 2,190,000 The
company's fiscal year-end is December 31. Required: Calculate the amount of interest capitalized for 2021 and 2022. (Round weighted average interest rate to 2 decimal places and final answers to the nearest whole dollar.) Amount of interest 2021 2022