(Answered) Problem - discuss with your team the following case

Accounting

Problem - 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 response of a maximum of seven hundred 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:
Financial statements.
Income statement.
Balance sheet.
Statement of owners' equity.

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