Question
Trinkle Co., Inc., made several purchases of long-term assets in 2016. The details of each purchase are presented here. New Office Equipment 1.List price: $40,800;
Trinkle Co., Inc., made several purchases of long-term assets in 2016. The details of each purchase are presented here.
New Office Equipment
1.List price: $40,800; terms: 2/10 n/30; paid within discount period.2.Transportation-in: $820.3.Installation: $520.4.Cost to repair damage during unloading: $654.5.Routine maintenance cost after six months: $240.
Basket Purchase of Copier, Computer, and Scanner for $52,500 with Fair Market Values
1.Copier, $24,648.2.Computer, $12,640.3.Scanner, $25,912.
Land for New Warehouse with an Old Building Torn Down
1.Purchase price, $82,500.2.Demolition of building, $5,330.3.Lumber sold from old building, $2,550.4.Grading in preparation for new building, $9,800.5.Construction of new building, $239,000.
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