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
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: $44,800; terms: 2/10, n/30; paid within the discount period. 2. Transportation-in: $860. 3. Installation: $490. 4. Cost to repair damage during unloading: $476. 5. Routine maintenance cost after eight months: $200. Basket Purchase of Copier, Computer, and Scanner for $53,800 with Fair Market Values 1. Copier, $24,624. 2. Computer, $11,016. 3. Scanner, $29,160. Land for New Warehouse with an Old Building Torn Down 1. Purchase price, $83,000. 2. Demolition of building, $5,320. 3. Lumber sold from old building, $2.950. 4. Grading in preparation for new building. $8,000. 5. Construction of new building, $250,000. Required In each of these cases, determine the amount of cost to be capitalized in the asset accounts. Asset Allocated Costs Total
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