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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: $36,000; terms: 2/10 n/30; paid within discount period. 2. Transportation-in: $850. 3. Installation: $400. 4. Cost to repair damage during unloading: $562. 5. Routine maintenance cost after six months: $170. Basket Purchase of Copier, Computer, and Scanner for $54,000 with Fair Market Values 1. Copier, $23,400. 2. Computer, $10,400. 3. Scanner, $31,200. Land for New Warehouse with an Old Building Torn Down 1. Purchase price, $77,600. 2. Demolition of building, $4,580. 3. Lumber sold from old building, $2,570. 4. Grading in preparation for new building, $7,600. 5. Construction of new building, $227,000. 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: Asset Allocated Costs Copier Computer Scanner Total Land and building: Asset Allocated Costs Cost of land Construction costs Total cost
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