Q7 49 Suppose you buy land for $3,200,000 and spend $1,300,000 to develop the property You then divide the land into lots as follows How much did each hilltop lot cost you a $270,000 c $128,000 b $192,000 d $180,000 Category 10 hilltop lots 10 valley lots Sale Price per Lot $525,000 350,000...

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Q7-49. Suppose you buy land for $3,200,000 and spend $1,300,000 to develop the property. You then divide

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Q7-49. Suppose you buy land for $3,200,000 and spend $1,300,000 to develop the property.

You then divide the land into lots as follows:

image text in transcribed

How much did each hilltop lot cost you?

a. $270,000

c. $128,000

b. $192,000

d. $180,000

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Financial Accounting International Financial Reporting Standards Global Edition

ISBN: 9781292211145

11th Edition

Authors: Charles T. Horngren, C. William Thomas, Wendy M. Tietz, Themin Suwardy, Walter T. Harrison

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Question Posted: Jul 25, 2024 12:00 PM

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Q7-49. Suppose you buy land for $3,200,000 and spend $1,300,000 to develop the property. You then divide

Question:

Category 10 hilltop lots..... 10 valley lots Sale Price per Lot $525,000 350,000

Step by Step Answer:

Financial Accounting International Financial Reporting Standards Global Edition

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