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Check my Trinkle Company made several purchases of long-term ossets during the year. The details of each purchase are presented here. New Office Equipment 1.
Check my Trinkle Company made several purchases of long-term ossets during the year. The details of each purchase are presented here. New Office Equipment 1. List price: $40,700; terms: 2/10, 1/30; paid within the discount period 2. Transportation-in: $850. 3. Installation: $510 4. Cost to repair damage during unloading: $642. 5. Routine maintenance cost after eight months: $110, Basket Purchase of Copier, Computer, and Scanner for $53,500 with Fair Market Values 1. Copier, $27.692 2. Computer, $8,372 3. Scanner, $28,336 Land for New Warehouse with an Old Building Torn Down 1. Purchase price. $80,600 2. Demolition of building, $5,280. 3. Lumber sold from old building, $3,000. 4. Grading in preparation for new building. $8,200. 5. Construction of new building, $298,000. Required In each of these cases, determine the amount of cost to be capitalized in the asset accounts A. Puwet, Jr. 3. Scanner, $28,336. Land for New Warehouse with an Old Building Torn Down 1. Purchase price, $80,600. 2. Demolition of building. $5,280. 3. Lumber sold from old building, $3,000. 4. Grading in preparation for new building, $8,200. 5. Construction of new building, $298,000. Required In each of these cases, determine the amount of cost to be capitalized in the asset accounts. Asset Allocated Costs Total Office equipment Basket purchase: Copier Computer Scanner Total cost to be capitalized Land and building: Cost of land Construction costs Total cost to be capitalized
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