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Vladimir79 [104]
3 years ago
12

Sheffield Realty Corporation purchased a tract of unimproved land for $115,500. This land was improved and subdivided into build

ing lots at an additional cost of $72,366. These building lots were all of the same size but owing to differences in location were offered for sale at different prices as follows.
Group No. of Lots Price per Lot
1 9 $6,300
2 15 8,400
3 17 5,040
Operating expenses for the year allocated to this project total $38,220. Lots unsold at the year-end were as follows.
Group 1 4 lots
Group 2 6 lots
Group 3 1 lots
Required :
1. At the end of the fiscal year Sheffield Realty Corporation instructs you to arrive at the net income realized on this operation to date.
Net income $ _________.
Business
1 answer:
monitta3 years ago
4 0

Answer

The answer and procedures of the exercise are attached in the following archives.

Explanation  

You will find the procedures, formulas or necessary explanations in the archive attached below. If you have any question ask and I will aclare your doubts kindly.  

Download xlsx
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