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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: $41,600; terms: 2/10n/30; paid within discount period. 2. Transportation-in: $790. 3. Installation: $590. 4. Cost to repair damage during unloading: $606. 5. Routine maintenance cost after eight months: $290. Basket Purchase of Copier, Computer, and Scanner for $48,200 with Fair Market Values 1. Copier, $25,564. 2. Computer, $8,715. 3. Scanner, $23,821. Land for New Warehouse with an Old Building Torn Down 1. Purchase price, $83,300. 2. Demolition of building, $5,290. 3. Lumber sold from old building, $1,700. 4. Grading in preparation for new building, $6,300. 5. Construction of new building, $226,000. Required In each of these cases, determine the amount of cost to be capitalized in the asset accounts
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