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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.
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: $40,700; terms: 2/10 n/30; paid within discount period. 2. Transportation-in: $850. 3. Installation: $420. 4. Cost to repair damage during unloading: $681. 5. Routine maintenance cost after eight months: $220. Basket Purchase of Copier, Computer, and Scanner for $51,800 with Fair Market Values 1. Copier, $26,208. 2. Computer, $12,480. 3. Scanner, $23,712 Land for New Warehouse with an Old Building Torn Down 1. Purchase price. $82,100. 2. Demolition of building, $5,240. 3. Lumber sold from old building, $2,450. 4. Grading in preparation for new building, $9,100. 5. Construction of new building, $287,000.
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