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Liddy Corp. began constructing a new warehouse for its operations during the current year. In the year Liddy incurred interest of $30,000 on a working capital loan, and interest on a construction loan for the warehouse of $60,000. Interest computed on the average accumulated expenditures for the warehouse construction was $50,000. What amount of interest should Liddy expense for the year?
Separate Legal Entity
A separate legal entity is a business structure that is legally considered distinct from its owners, providing them with certain protections and liabilities.
Proprietorship
A business owned by one person.
Partnership
A business owned by two or more persons associated as partners.
Return on Equity
Return on Equity (ROE) measures a company's profitability by revealing how much profit a company generates with the money shareholders have invested.
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