Trinkle Company made several purchases of long-term assets during the year. The details of each purchase are presented h
Posted: Sun Jul 03, 2022 4:13 pm
Trinkle Company made several purchases of long-term assetsduring the year. The details of each purchase are presentedhere.
New Office Equipment
List price: $41,000; terms: 2/10, n/30; paid within the discountperiod.
Transportation-in: $780.
Installation: $450.
Cost to repair damage during unloading: $675.
Routine maintenance cost after eight months: $240.
Basket Purchase of Copier, Computer, and Scanner for$47,000 with Fair Market Values
Copier, $24,338.
Computer, $8,490.
Scanner, $23,772.
Land for New Warehouse with an Old Building TornDown
Purchase price, $82,600.
Demolition of building, $4,790.
Lumber sold from old building, $2,850.
Grading in preparation for new building, $9,900.
Construction of new building, $284,000.
Required
In each of these cases, determine the amount of cost to becapitalized in the asset accounts.
New Office Equipment
List price: $41,000; terms: 2/10, n/30; paid within the discountperiod.
Transportation-in: $780.
Installation: $450.
Cost to repair damage during unloading: $675.
Routine maintenance cost after eight months: $240.
Basket Purchase of Copier, Computer, and Scanner for$47,000 with Fair Market Values
Copier, $24,338.
Computer, $8,490.
Scanner, $23,772.
Land for New Warehouse with an Old Building TornDown
Purchase price, $82,600.
Demolition of building, $4,790.
Lumber sold from old building, $2,850.
Grading in preparation for new building, $9,900.
Construction of new building, $284,000.
Required
In each of these cases, determine the amount of cost to becapitalized in the asset accounts.