A comparable property sold six months ago for $150,000. The adjustments for the various elements of comparison have been calculated as follows: Location:-5 percent Market conditions: +8 percent Physical characteristics: +$12,500 Financing terms:-$2,600 Conditions of sale: None Property rights conveyed: None Use: None Nonrealty items: -$3,000 Making the adjustments in the order suggested in Exhibit 7-6, what is the comparable property's final adjusted sale price?

A comparable property sold six months ago for $150,000. The adjustments for the various elements of comparison have been calculated as follows: Location:-5 percent Market conditions: +8 percent Physical characteristics: +$12,500 Financing terms:-$2,600 Conditions of sale: None Property rights conveyed: None Use: None Nonrealty items: -$3,000 Making the adjustments in the order suggested in Exhibit 7-6, what is the comparable property's final adjusted sale price?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

A comparable property sold six months ago for $150,000. The adjustments for the various elements of comparison have been calculated as follows:
Location: -5 percent
Market conditions: +8 percent
Physical characteristics: +$12,500
Financing terms:-$2,600
Conditions of sale: None
Property rights conveyed: None
Use: None
Nonrealty items: -$3,000
Making the adjustments in the order suggested in Exhibit 7-6, what is the comparable property's final adjusted sale price?

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