Camden Properties Is Developing a Golf Course Subdivision That Includes

question 96

Essay

Camden Properties is developing a golf course subdivision that includes 230 home lots; 150 lots are golf course lots and will sell for $125,000 each; 80 are street frontage lots and will sell for $78,125. The developer acquired the land for $5,800,000 and spent another $2,300,000 on street and utilities improvement. Assign the joint land and improvement costs to the lots using the value basis and determine the average cost per lot.

---

Definitions:

Ski Boots

Footwear specifically designed for skiing, providing support and enabling the skier to control the skis.

Purchase of Suits

Purchase of suits refers to the acquisition of formal clothing items, recorded as a business expense if used for professional purposes.

Men's Coats

Clothing items designed specifically for men to wear over their other garments for warmth or protection.

Department Store

A large retail establishment offering a wide range of consumer goods across different product categories under one roof.