Table 17-1
in 2016, a Developer Sells Land For $\$ 800,000$

question 42

Multiple Choice

Table 17-1
In 2016, a developer sells land for $\$ 800,000$ . The cost of the land was $\$ 500,000$ . He receives a $\$ 200000$ down payment plus three instalments of $\$ 300,000$ , $\$ 200000$ and $\$ 100,000$ which will be paid in 2017, 2018 and 2019 . He uses the instalment method to record revenue. It is decided that $10 \%$ is the appropriate rate of interest.
-Refer to Table 17-1.What amount of profit will be recorded when the 2017 payment is received?

• A)$300 000
• B)$51 315
• C)$71 315
• D)$0

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Definitions:

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A generalized procedural framework, typically involving stages such as preparation, implementation, and review, used to achieve a specific goal or resolve problems.

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A predisposition or inclination against labor unions and their activities, often reflected in policies, practices, or attitudes that undermine union organization and collective bargaining.

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