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Trinkle Company, Incorporated made several purchases of long-term assets in Year 1 . The details of each purchase are presented here. New Office Equipment 1.
Trinkle Company, Incorporated made several purchases of long-term assets in Year 1 . The details of each purchase are presented here. New Office Equipment 1. List price: $44,900; terms: 2/10n/30; paid within discount period. 2. Transportation-in: $890. 3. Installation: $500. 4. Cost to repair damage during unloading: $471. 5. Routine maintenance cost after eight months: $160. Basket Purchase of Copier, Computer, and Scanner for $50,700 with Fair Market Values 1. Copier, $26,273. 2. Computer, \$6,110. 3. Scanner, $28,717. Land for New Warehouse with an Old Building Torn Down 1. Purchase price, $83,400. 2. Demolition of building, $4,790. 3. Lumber sold from old building, $1,360. 4. Grading in preparation for new building, $6,300. 5. Construction of new building, $285,000. Required In each of these cases, determine the amount of cost to be capitalized in the asset accounts
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