Q1. DoranRealtyCompanypurchasedaplotofgroundfor$1,900,000andspent$4,100,000in developingitforbuildin

September 15, 2021/in Uncategorized /by Paul

Q1.

DoranRealtyCompanypurchasedaplotofgroundfor$1,900,000andspent$4,100,000in developingitforbuildinglots.ThelotswereclassifiedintoHighland,Midland,andLowlandgrades,tosell at$120,000,$90,000,and $60,000 each,respectively.

Instructions

Completethetable belowto allocatethe costof the lotsusing arelative sales value method.

	No.of	Selling	Total	%of	Apportio	nedCost
Grade	Lots	Price	Revenue	Total Sales	Total	PerLot
Highland	20	$	$		$	$
Midland	40	$				$
Lowland	100	$				$
	160		$		$

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Q1. DoranRealtyCompanypurchasedaplotofgroundfor$1,900,000andspent$4,100,000in developingitforbuildin

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