Essay
The 2011 annual report of Bessemer Steel disclosed the following information relating to the company's construction projects, debt, and interest cost (in thousands of dollars):
Required:
Based on the information provided in the annual report, estimate the amount of interest to be capitalized in 2011. Give reasons why your estimate differs from the amount reported by the company. Assume that the construction payments were made uniformly during the year.
Correct Answer:
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2011 interest cost, based on interest-be...View Answer
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