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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
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: $44,900; terms: 2/10, n/30; paid within the discount period. 2. Transportation-in: $720. 3. Installation: $500. 4. Cost to repair damage during unloading: $548. 5. Routine maintenance cost after eight months: $170. Basket Purchase of Copier, Computer, and Scanner for $50,800 with Fair Market Values 1. Copier, $26,928. 2. Computer, $9,792. 3. Scanner, $24,480. Land for New Warehouse with an Old Building Torn Down 1. Purchase price, $82,000. 2. Demolition of building, $4,730. 3. Lumber sold from old building, $1,310. 4. Grading in preparation for new building, $9,500. 5. Construction of new building, $237,000.
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