Why the street frontage lots using value basis, Accounting Basics

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Why the street frontage lots using value basis

Belgrade Lakes Properties is developing a golf course subdivision that includes 225 home lots; 100 lots are golf course lots and will sell for $115,000 each; 125 are street frontage lots and will sell for $85,000. The developer acquired the land for $2,000,000 and spent another $1,600,000 on street and utilities improvement. Compute the amount of joint cost to be allocated to the street frontage lots using value basis.

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Accounting Basics: Why the street frontage lots using value basis

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Accounting Basics: Why the street frontage lots using value basis

Reference No:- TGS0706888

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Recent Questions Asked Accounting Basics

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Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: Why the street frontage lots using value basis

Reference No:- TGS0706888

Recent Questions Asked Accounting Basics

Q : Tooltime materials price variance

Q : What effect would that have on the accounting system

Q : Fabric uniforms for use in fire service

Q : How much of the cost should be allocated to milk

Q : Why the street frontage lots using value basis

Q : How to the assume a discount rate

Q : Compute the equivalent units of production for the month

Q : How to produces electronic timepieces

Q : How would each decision affect the companys cash flows

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