Compute the amount of joint cost to be allocated


Belgrade Lakes Properties is developing a golf course subdivision that includes 225 home lots; 100 lots are golf course lots and will sell for $102,000 each; 125 are street frontage lots and will sell for $72,000. The developer acquired the land for $1,870,000 and spent another $1,470,000 on street and utilities improvement. Compute the amount of joint cost to be allocated to the street frontage lots using value basis.

Request for Solution File

Ask an Expert for Answer!!
Accounting Basics: Compute the amount of joint cost to be allocated
Reference No:- TGS0678621

Expected delivery within 24 Hours