Solution-Operating expenses for the year allocated

Operating expenses for the year allocated

Assignment Help Accounting Basics

Reference no: EM131117411

1. Relative Sales Value Method Larsen Realty Corporation purchased a tract of unimproved land for $55,000. This land was improved and subdivided into building lots at an additional cost of $30,000. 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 $3,000
2 15 4,000
3 19 2,000

Operating expenses for the year allocated to this project total $18,200. Lots unsold at the year-end were as follows.

Group 1 5 lots
Group 2 7 lots
Group 3 2 lots

At the end of the fiscal year Larsen Realty Corporation instructs you to arrive at the net income realized on this operation to date.

Reference no: EM131117411

Questions Cloud

Objective of all organisations wishing to be successful : Excellence in customer service is the objective of all organisations wishing to be successful. However, there is often a gap between customer expectations and management perceptions of customer expectations. Organisations often fail to get close t..

Examine the disparity of your states budget allocation : From the first e-Activity, examine and evaluate the disparity of your state's budget allocation for education and property tax to the various localities.

A second organization in the same industry : Using your current work organization (or an organization of interest) and a second organization in the same industry as the subject matter, research the elements of business, compare and contrast the two selected organizations, and prepare an APA ..

How many us dollars will you need for your purchase? : You need to purchase 100,000 Canadian dollars with U.S. dollars. How many U.S. dollars will you need for your purchase

Operating expenses for the year allocated : Operating expenses for the year allocated to this project total $18,200. Lots unsold at the year-end were as follows.

Economic relevance of fixed costs : Explain the difference between and the economic relevance of fixed costs, sunk costs, variable costs, and marginal costs.

Research a security testing software tool : 1. Research a security testing software tool that you practiced using in the EC-Council iLabs or from the textbook.

Explain what is the latest version of the scor model : Explain what is the latest version of the SCOR Model and how does it help the organization to gain a strategic advantage over its competitors. What are the order winning criteria of the model and what pitfalls must a supply chain manager avoid when u..

Unit cost of this product using absorption method : a) Determine the unit cost of this product using absorption method b) Determine the unit cost of this product using marginal costing

User Account

All Pages

Operating expenses for the year allocated

Reference no: EM131117411

Reference no: EM131117411

Questions Cloud

Reviews

Write a Review

Accounting Basics Questions & Answers

How much control does fed have over this longer real rate

Coures:- fundamental accounting principles

Accounting problems

Theory of interest - term structure of interest rates

Write a report on internal controls

Prepare the bank reconciliation for company

Cost-benefit analysis

Theory of interest

Liquidity and profitability

What is the expected risk premium on the portfolio

Simple interest and compound interest

Capm and venture capital

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT