Question

X Your answer is incorrect. Bonita Realty Corporation purchased a tract of unimproved land for $71,500. This land was improved and subdivided into building lots at an additional cost of $44.798. These building lots were all of the same size but owing to differences in location were offered for sale at different prices as follows. No. of Lots Group Price per Lot $3.900 5,200 3,120 15 Operating expenses for the year allocated to this project total $23,660. Lots unsold at the year-end were as follows. Group 1 4 lots Group 2 6 lots Group 3 1 lots sources Banner At the end of the fiscal year Bonita Realty Corporation instructs you to arrive at the net income realized on this operation to date. (Round ratios for computational purposes to 4 decimal places, es 78.7234% and final answer to decimal places, es 5.845) Net income $ Textbook and Media

Answer 1

Salution No. Cos t Saler Cost Total Cost Relative Lots prce Salus Sales alloated Total A) Pir Lot (B) Price LAKB) Paice as Lok Lot 116298 R443 14 3900 35100 54660 3644 78000 5200 116298 15 2 2181 3न२5 53040 16298 33% 3120 17 3 ।।62१8 f00% 16640

Lots sold Total Total cost god Price Per lot Cost No. Lot Sales Per Lot Sold No. Lot-unsald Lost per lot X lots Sold) 14500 3900 135F0 46800 5200 3644 3296 49920 16 350a4 3120 [[6२२० S1390

Calculation Net Income 16220 Sales 81390 Less cost od Sold Gsessot 34830 23660 us oprattng expuses 111TO Net Income