Sheffield Corp. is constructing a building. Construction began in 2020 and the building was completed 12/31/20. Sheffield made payments to the construction company of $2880000 on 7/1, $6504000 on 9/1, and $5860000 on 12/31. Weighted-average accumulated expenditures were

$‭3,608,000‬

Explanation:

Payments before the end of 2020 were;

Weighted-average accumulated expenditures;

= (2,880,000 * 6/12 months) + (6,504,000 * 4/12 months)

= $‭3,608,000‬

the definition of a small business is an independently owned and operated company that is limited in size and in revenue depending on the industry. a local bakery that employs 10 people is an example of a small business. a manufacturing facility that employees less than 500 people is an example of a small business.