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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: $35,000; terms: 2/10 n/30; paid within discount period. 2. Transportation-in: $890. 3. Installation: $540. 4. Cost to repair damage during unloading: $536. 5. Routine maintenance cost after eight months: $140. Basket Purchase of Copier, Computer, and Scanner for $53,500 with Fair Market Values 1. Copier, $26,404. 2. Computer, $10,948. 3. Scanner, $27,048. Land for New Warehouse with an Old Building Torn Down 1. Purchase price, $84,700. 2. Demolition of building, $5,260. 3. Lumber sold from old building. $2,720. 4. Grading in preparation for new building, $7,600. 5. Construction of new building, $287,000.
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