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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
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: $38,000; terms: 2/10 n/30; paid within discount period. 2. Transportation-in: $740. 3. Installation: $420. 4. Cost to repair damage during unloading: $659. 5. Routine maintenance cost after six months: $290. Basket Purchase of Copier, Computer, and Scanner for $47,000 with Fair Market Values 1. Copier, $23,206. 2. Computer, $6,792. 3. Scanner, $26,602. Land for New Warehouse with an Old Building Torn Down 1. Purchase price, $77,700. 2. Demolition of building, $5,060. 3. Lumber sold from old building, $1,830. 4. Grading in preparation for new building, $9,000. 5. Construction of new building, $251,000. Required In each of these cases, determine the amount of cost to be capitalized in the asset accounts. Office equipment: Required In each of these cases, determine the amount of cost to be capitalized in the asset accounts. Office equipment: Allocated Costs Asset Office equipment Basket purchase: Allocated Costs Asset Copier Computer Scanner Total S 0 Land and building: Allocated Costs Asset Cost of land Construction costs Total cost S 0
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