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Trinkle Company made several purchases of long-term assets in 2018. The details of each purchase are presented here. New Office Equipment 1. List price: $42,600;
Trinkle Company made several purchases of long-term assets in 2018. The details of each purchase are presented here. New Office Equipment 1. List price: $42,600; terms: 2/10, n/30; paid within the discount period. 2. Transportation-in: $770. 3. Installation: $540. 4. Cost to repair damage during unloading: $450. 5. Routine maintenance cost after eight months: $160. Basket Purchase of Copier, Computer, and Scanner for $52,900 with Fair Market Values 1. Copier, $23,569. 2. Computer, $10,192. 3. Scanner, $29,939. Land for New Warehouse with an Old Building Torn Down 1. Purchase price, $78,600. 2. Demolition of building, $5,220. 3. Lumber sold from old building, $2,310. 4. Grading in preparation for new building, $7,200. 5. Construction of new building, $203,000. Required In each of these cases, determine the amount of cost to be capitalized in the asset accounts. Office equipment: Asset Allocated Costs Office equipment Asset Allocated Costs Copier Computer Scanner Total $ 0 Land and building: Asset Allocated Costs Cost of land Construction costs Total cost $ 0
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