Problem 8-25A Accounting for acquisition of assets including a basket purchase LO 8-1

Trinkle Co., Inc. made several purchases of long-term assets in Year 1. The details of each purchase are presented here. New Office Equipment

1. List price: $35,800; terms: 2/10 n/30; paid within discount period.
2. Transportation-in: $900.
3. Installation: $410.
4. Cost to repair damage during unloading: $644.
5. Routine maintenance cost after six months: $160.

Basket Purchase of Copier, Computer, and Scanner for $53,800 with Fair Market Values

1. Copier, $25,272.
2. Computer, $7,128.
3. Scanner, $32,400.

Land for New Warehouse with an Old Building Torn Down

1. Purchase price, $83,900.
2. Demolition of building, $5,490.
3. Lumber sold from old building, $1,440.
4. Grading in preparation for new building, $9,600.
5. Construction of new building, $224,000.

Required In each of these cases, determine the amount of cost to be capitalized in the asset accounts. Office equipment:

Basket purchase:

Land and building: