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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: $45,000; terms: 2/10 n/30; paid within discount period. 2. Transportation-in: $890. 3. Installation: $470. 4. Cost to repair damage during unloading: $564. 5. Routine maintenance cost after six months: $280. Basket Purchase of Copler, Computer, and Scanner for $48,200 with Fair Market Values 1. Copier, $21,497. 2. Computer, $6,972. 3. Scanner, $29,631. Land for New Warehouse with an Old Building Torn Down 1. Purchase price, $84,800, 2. Demolition of building, $5,210. 3. Lumber sold from old building. $2,840. 4. Grading in preparation for new building. $6,500 Construction of New Building 1. Construction of new building, $217,000
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