Question
Trinkle Company made several purchases of long-term assets during the year. The details of each purchase are presented here. New Office Equipment 1. List price:
Trinkle Company made several purchases of long-term assets during the year. The details of each purchase are presented here. New Office Equipment 1. List price: $42,200, terms: 2/10, n/30; paid within the discount period. 2. Transportation-in: $840. 3. Installation: $520. 4. Cost to repair damage during unloading: $517. 5. Routine maintenance cost after eight months: $260. Basket Purchase of Copier, Computer, and Scanner for $47,000 with Fair Market Values 1. Copier, $20,942 2. Computer, $8,490. 3. Scanner, $27168. Land for New Warehouse with an Old Building Torn
Down 1. Purchase price, $78,000 2. Demolition of building, $5,250. 3. Lumber sold from old building, $2.700. 4. Grading in preparation for new building, $7,700. 5. Construction of new building, $267,000 ch of these cases, determine the amount of cost to be capitalized in the asset accounts .
inkle Company made several purchases of long-term assets during the year. The details of each purchase are presented here. New Office Equipment 1. List price: $42,200; terms: 2/10,n/30; paid within the discount period. 2. Transportation-in: $840. 3. Installation: $520. 4. Cost to repair damage during unloading: $517. 5. Routine maintenance cost after eight months: $260. Basket Purchase of Copier, Computer, and Scanner for $47,000 with Fair Market Values 1. Copier, $20,942. 2. Computer, $8,490. 3. Scanner, $27,168. Land for New Warehouse with an Old Building Torn Down 1. Purchase price, $78,000. 2. Demolition of building, $5,250. 3. Lumber sold from old building, $2,700. 4. Grading in preparation for new building, $7,700. 5. Construction of new building, $267,000. Required In each of these cases, determine the amount of cost to be capitalized in the asset accountsStep by Step Solution
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