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Borrowing cost

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FR Exams › Borrowing cost

  • This topic has 1 reply, 2 voices, and was last updated 1 month ago by P2-D2.
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  • August 25, 2023 at 6:24 pm #690707
    Rayeesabasheer
    Participant
    • Topics: 1
    • Replies: 0
    • ☆

    Orinoco borrowed $3m at 9% to finance construction of a factory on 1 May 20X7. Work on the project began on 1 June 20X7. $1m of the loan was not required to be spent until 1 September 20X7, so was reinvested until then at 7%.

    What amount of borrowing costs should be capitalised for the year to 31 December 20X7?

    A.$140,000

    B.$156,667

    C.$157,500

    D.$180,000

    August 28, 2023 at 1:22 pm #690825
    P2-D2
    Keymaster
    • Topics: 4
    • Replies: 6699
    • ☆☆☆☆☆

    Hi,

    I can help you with the answer to the question but I’d need to see you having attempted it first so that I can then explain where you’ve gone wrong and can then help you with your understanding.

    Look forward to hearing back from you.

    Thanks

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