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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: $35,500;
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: $35,500; terms: 2/10, n/30; paid within the discount period 2. Transportation-in: $760 3. Installation: $410 4. Cost to repair damage during unloading: $689 5. Routine maintenance cost after eight months: $160. Basket Purchase of Copier, Computer, and Scanner for $49,100 with Fair Market Values 1. Copier, $26,048. 2. Computer, $7,104 3. Scanner, $26,048 Land for New Warehouse with an Old Building Torn Down 1. Purchase price, $84,300 2. Demolition of building, $4,620 3. Lumber sold from old building, $2,930 4. Grading in preparation for new building, $6,600 5. Construction of new building, $244,000 Required In each of these cases, determine the amount of cost to be capitalized in the asset accounts. Office equipment: Allocated Costs Asset Office pment Basket purchase Allocated Costs Copier Computer Scanner Total Land and building Allocated Costs Asset Cost of land Construction costs Total cost
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