On January 1, 2016, Dreamworld Co. began construction of a new warehouse. The building was finished and ready for use on September 30, 2017. Expenditures on the project were as follows:
|
January 1, 2016
|
$341,000
|
|
September 1, 2016
|
$507,000
|
|
December 31, 2016
|
$507,000
|
|
March 31, 2017
|
$507,000
|
|
September 30, 2017
|
$341,000
|
Dreamworld had $6,900,000 in 12% bonds outstanding through both years.
The average accumulated expenditures for 2017 by the end of the construction period was:
$1,100,750.
$2,203,000.
$1,416,200.
$1,754,200.