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EXCEL - IDEA: XBRL DOCUMENT - Master Silicon Carbide Industries, Inc.Financial_Report.xls
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v2.4.0.6
CONSTRUCTION IN PROGRESS
12 Months Ended
Dec. 31, 2011
Construction In Progress [Abstract]  
Construction In Progress [Text Block]

NOTE 10 – CONSTRUCTION IN PROGRESS

 

Construction in progress consists of capitalized costs associated with the construction of production lines that are not yet in service and therefore not yet being depreciated. All facilities purchased for installation, self-made or subcontracted, are accounted for under construction-in-progress. Construction-in-progress is recorded at acquisition cost, including cost of facilities, installation expenses and the interest capitalized during the course of construction for the purpose of financing the project. Upon completion and readiness for use of the project, the cost of construction-in-progress is to be transferred to fixed assets.

 

    December
31, 2011
    December
31, 2010
 
Buildings   $ -     $ 2,469,145  
Construction in progress     -       812,726  
Equipment     848,540       775,382  
Capitalized interest     -       75,422  
Others     -       283,028  
Total   $ 848,540     $ 4,415,703  

 

Total capitalized interest amounted to zero and $75,422 for the years ended December 31, 2011 and 2010, respectively.