Trnkle Company, Incorporated made several purchases of long-term assets in Year 1. The detals of each...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Trìnkle Company, Incorporated made several purchases of long-term assets in Year 1. The detals of each purchase are presented here. New Office Equlpment 1. List price: $38,300; terms: 210 n/30; pald within discount perlod. 2. Transportation-in: $720. 3. Installation: $540. 4. Cost to repair damage during unloading $61. 5. Routine malntenance cost after stx months: $230. Basket Purchase of Copler, Computer, and Scanner for $50,200 with Falr Market Values 1. Copler, $21175. 2 Computer, $9.075. 3. Scanner, $30,250. Land for New Warehouse with an Old Bulding Torn Down 1. Purchase price, $79,400. 2. Demolition of bulding. $5,390. 3. Lumber sold from old bullding. $1.150. 4. Grading in preparation for new bulding, $7,600 Construction of New Bulding 1. Construction of new bulding. $249,000 Required In case of office equipment, determine the amount of cost to be capitalized in the asset accounts. In case of basket purchase, determine the amount of cost to be capitalzed in the asset accounts In case of land, determine the amount of cost to be capitallzed in the asset accounts. In case of new bullding, determine the amount of cost to be capitalized in the asset accounts. Complete this question by entering your answers in the tabs below. office Equipment Basket Purchase Land Dulding Trìnkle Company, Incorporated made several purchases of long-term assets in Year 1. The detals of each purchase are presented here. New Office Equlpment 1. List price: $38,300; terms: 210 n/30; pald within discount perlod. 2. Transportation-in: $720. 3. Installation: $540. 4. Cost to repair damage during unloading $61. 5. Routine malntenance cost after stx months: $230. Basket Purchase of Copler, Computer, and Scanner for $50,200 with Falr Market Values 1. Copler, $21175. 2 Computer, $9.075. 3. Scanner, $30,250. Land for New Warehouse with an Old Bulding Torn Down 1. Purchase price, $79,400. 2. Demolition of bulding. $5,390. 3. Lumber sold from old bullding. $1.150. 4. Grading in preparation for new bulding, $7,600 Construction of New Bulding 1. Construction of new bulding. $249,000 Required In case of office equipment, determine the amount of cost to be capitalized in the asset accounts. In case of basket purchase, determine the amount of cost to be capitalzed in the asset accounts In case of land, determine the amount of cost to be capitallzed in the asset accounts. In case of new bullding, determine the amount of cost to be capitalized in the asset accounts. Complete this question by entering your answers in the tabs below. office Equipment Basket Purchase Land Dulding
Expert Answer:
Answer rating: 100% (QA)
Solution Req 1 Office equipment Cost of equipment after discount ... View the full answer
Related Book For
Introductory Financial Accounting for Business
ISBN: 978-1260299441
1st edition
Authors: Thomas Edmonds, Christopher Edmonds
Posted Date:
Students also viewed these accounting questions
-
Trinkle Company, Incorporated made several purchases of long-term assets In Year 1. The detals of each purchase are presented here. New Office Eguipment 1. List price: $39,600; terms: 2/10 n/30; pald...
-
Suppose that in Year 1 the price level equals 110 and the output level equals $14 trillion and that in Year 2 the price level equals 104 and the output level equals $13 trillion. In the ADAS model,...
-
Moon Co., Inc., made several purchases of long-term assets in 2010. The details of each purchase are presented here. New Office Equipment 1. List price: $60,000; terms: 2/10 n/30; paid within...
-
Solve Loe 4 (a) x (b) fo e-y/2 dy 8 X 1+x dx -6 1 ( c ) = = 14 dx (c) - 3 x -
-
What are regulatory costs, and why are they important for understanding a companys financial reporting choices?
-
Seattle Enterprises reports the following information at December 31, 2014: Requirements 1. What is the actual manufacturing overhead of Seattle Enterprises? 2. What is the allocated manufacturing...
-
What does the operating-cash-flow-to-capital-expenditures ratio measure?
-
1. How would you explain the abrupt change in Elisas customer service behaviour? Outline what has happened to her motivation using expectancy and equity theories. 2. Could Elisas employer have...
-
The key to managing bottlenecks is to bypass the bottleneck step in the process. Question 4 options: True False
-
You are trying to evaluate whether an existing, idle distillation column can be used for a separation for which it was not originally designed. Answer the following questions about this column: a....
-
There is low morale and low employee satisfaction in an HCO. As we know, low employee morale and low employee satisfaction are a silent killer of workplace productivity and performance. As a HCO...
-
Create a mobile application using Java programming: A Spinner is needed to advertise 3 tourist tours that are on sale (Zoo, Beach, Pitch Lake). A zoo tour costs $500, a Maracas tour costs $600 and a...
-
Joseph Moore is an accounting major at a midwestern state university located approximately 60 miles from a major city. Many of the students attending the university are from the metropolitan area and...
-
Q.4(a) AB and AC are similar uniform rods, of length a, smoothly joined at A. BD is a weightless bar, of length b, smoothly joined at B, and fastened at D to a smooth ring sliding on AC. The system...
-
What is Marketing plan direction ? 2. What is marketing plan of G & E Automotive Solutions ? 3. What is Diversification of G & E Automotive Solutions? 4. What is the marketing development of G & E...
-
You have an apartment for rent. One potential tenant has promised to sign an annual lease for eight years, with each year's rent (paid at the end of the year) of $32,000. Rather than make yearly...
-
Airfoil With Viscous Effects Use MFoil (or XFoil) to compute the aerodynamic characteristics of a NACA 23009. Your output should include: Polar plots for Re = 106 and Re = 107, with a ranging from -5...
-
Selected condensed data taken from a recent statement of financial position of Morino Ltd. are as follows. MORINO LTD. Statement of Financial Position (partial) Other current assets...
-
The following information was taken from the accounts of Green Market, a small grocery store, at December 31, Year 1. The accounts are listed in alphabetical order, and all have normal balances....
-
On January 1, Year 1, Poole Company had a balance of $178,000 in its Land account. During Year 1, Poole sold land that had cost $71,000 for $95,000 cash. The balance in the Land account on December...
-
Old Town Entertainment has two employees in Year 1. Clay earns $3,600 per month, and Philip, the manager, earns $10,800 per month. Neither is paid extra for working overtime. Assume the Social...
-
Camille Stibbe is general manager of Alden Corporation. She suggests that the budgeted income statement and the cash budget seem to show the same information. Therefore, she recommends that one of...
-
Thomas Baker, president of Brundage Corporation, says he has observed that an increase in sales almost always results in an increase in net income. Therefore, he is considering recommending that the...
-
From net sales to the number of warehouses, the ten-year operating and financial highlights on pages B-2-B-3 of Appendix B in this textbook provide a historical perspective to Costco's growth. This...
Study smarter with the SolutionInn App