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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 CHECK FIGURES 1. List
Trinkle Company made several purchases of long-term assets in 2018. The details of each purchase are presented here. New Office Equipment CHECK FIGURES 1. List price: $60,000; terms: 2/10, n/30; paid within the discount period. 2. Transportation-in: $1,500. 3. Installation: $2,500. 4. Cost to repair damage during unloading: $650. 5. Routine maintenance cost after eight months: $350. Total cost of equipment: $62,800 Cost allocated to copier: $16,500 Page 238 Basket Purchase of Copier, Computer, and Scanner for $30,000 with Fair Market Values 1. Copier, $22,000. 2. Computer, $10,000. 3. Scanner, $8,000. Land for New Warehouse with an Old Building Torn Down 1. Purchase price, $250,000. 2. Demolition of building, $18,000. 3. Lumber sold from old building, $6,000. 4. Grading in preparation for new building, $22,000. 5. Construction of new building, $510,000. Required In each of these cases, determine the amount of cost to be capitalized in the asset accounts
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