Question
How is partial-year depreciation handled?
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Answer
Prorate by months in service or by convention.
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Question
When is interest capitalized for a self-constructed asset?
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Answer
During construction, based on average accumulated expenditures.
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Question
What interest rate is used first in capitalized interest calculations?
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Answer
The rate on specific borrowings.
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Question
What limits capitalized interest under ASC 835-20?
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Answer
It cannot exceed actual interest incurred.
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