Pleasant Hills Properties is developing a golf course subdivision that includes 250 home lots; 100 lots are

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Pleasant Hills Properties is developing a golf course subdivision that includes 250 home lots;

100 lots are golf course lots and will sell for $95,000 each;

150 are street front lots and will sell for $65,000.

The developer purchased the land for $1,800,000 and spent another $1,400,000 to improve streets and utilities.

Calculate the joint cost amount to be allocated to the street front lots using the value basis.

Related Book For answer-question

Fundamental accounting principle

ISBN: 978-0078025587

21st edition

Authors: John J. Wild, Ken W. Shaw, Barbara Chiappetta

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Posted Date: May 18, 2023 06:57 AM

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Pleasant Hills Properties is developing a golf course subdivision that includes 250 home lots; 100 lots are

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Answer Sale Value of golf course lots 100 lots x 95000 Sale Value of street fronta... View the full answer

Fundamental accounting principle

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