Discuss with your team the following case study: Client X contacted you for clarification and recommendations regarding whether the interest cost on construction of a new warehouse may be included in the cost of the new warehouse. Write a team consensus response of no more than 700 words to include the following: “� Provide rational and clarifications of the proper treatment of interest cost under the rules of GAAP. “� Explain the impact of this interest cost on: o Financial statements. o Income statement. o Balance sheet. o Statement of owners’ equity. Click the Assignment Files tab to submit your assignment.

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