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On January 1, 2021, Maya Corp. embarked on a real estate development project involving single family dwellings. Maya purchased a track of land for P85,000,000.
On January 1, 2021, Maya Corp. embarked on a real estate development project involving single family dwellings. Maya purchased a track of land for P85,000,000. Maya incurred additional cost of P15,000,000 in preparing the land for sale. Details of the project are as follows:
a. What amount of cost should be allocated to Phase C lots?
Subd. Phase No. of lots Sales price per lot A 200 P400,000 B 300 P400,000 400 P500,000Step by Step Solution
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