Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Sale 1 1 sold for 4 0 0 , 0 0 0 and contains 4 0 0 acres. The land mix is 3 0 0

Sale 11 sold for 400,000 and contains 400 acres. The land mix is 300 acres of cropland @ $1,000/ac.,50 acres of pasture @ $600/ac., and 50 acres of woods @ $400/ac. The subject contains 150 acres of cropland, 200 acres of pasture, and 50 acres of woods.
Complete the land and building mix analysis and answer the following questions.
Sale 11 Dirt Road Subject Dirt Road
Land Type Acres $/Ac. Total Acres % Total $/Ac. CV
Cropland 300150
Pasture 50200
Woods 5050
Total Land 400400
Improvement
Sale Price $400,000
Land Adjustment to Sale 11=
Good Dwelling
1,000 sf @ $35 Good Dwelling
1,200 SF @
Good Bins
12,000 bu @ Good Bins
10,000 bu @
Total Improvements Total Improvements
Improvement Adjustment to Sale 11=
What building mix adjustment is indicated?
Question 8 options:
- $17
- $150
+ $150
+ $11

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Governmental and Nonprofit Accounting Theory and Practice

Authors: Robert J. Freeman, Craig D. Shoulders, Dwayne N. McSwain, Robert B. Scott

11th edition

133799565, 978-0133799569

More Books

Students also viewed these Accounting questions

Question

How does selection differ from recruitment ?

Answered: 1 week ago

Question

Question #1 - Transformational and Transactional Leadership

Answered: 1 week ago