Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

View Policies Current Attempt in Progress Oriole Realty Company purchased a plot of ground for $1,770,000 and spent $4,200,000 in developing it for building lots.

image text in transcribedimage text in transcribed

View Policies Current Attempt in Progress Oriole Realty Company purchased a plot of ground for $1,770,000 and spent $4,200,000 in developing it for building lots. The lots were classified into Highland, Midland, and Lowland grades, to sell at $122,500, $91.875, and $61.250 each, respectively. Complete the table below to allocate the cost of the lots using a relative sals value method. Apportioned Cost Total Revenue % of Total Sales Total Per Lot $ I $ % % s $ Save for Later Attempts: 0 of 1 used Submit Answer View Policies Current Attempt in Progress Oriole Realty Company purchased a plot of ground for $1.770.000 and spent $4,200,000 in developing it for building lots. The lots were classified into Highland, Midland, and Lowland grades, to sell at $122,500. $91.875, and $61,250 each, respectively. Complete the table below to allocate the cost of the lots using a relative sals value method. No. of Grade Lots Selling Price Total Revenue % of Total Sales Highland 20 $ $ % $ Midland 40 % Lowland 100 % 160 $ $ Save for Later Attempts: 0 of 1 used Submit Answer BI

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

Core Concepts Of Accounting Information Systems

Authors: Nancy A. Bagranoff, Mark G. Simkin, Carolyn Strand Norman

11th Edition

9780470507025, 0470507020

More Books

Students also viewed these Accounting questions

Question

What is the formula to calculate the mth Fibonacci number?

Answered: 1 week ago

Question

Describe how to train managers to coach employees. page 404

Answered: 1 week ago

Question

Discuss the steps in the development planning process. page 381

Answered: 1 week ago