Business, 31.03.2020 17:33 briarajeannette893

Trinkle Company made several purchases of long-term assets in 2018. The details of each purchase are presented here.

New Office Equipment
List price: $60,000; terms: 2/10, n/30; paid within the discount period.
Transportation-in: $1,500.
Installation: $2,500.
Cost to repair damage during unloading: $650.
Routine maintenance cost after eight months: $350.
Basket Purchase of Copier, Computer, and Scanner for $30,000 with Fair Market Values
Copier, $22,000.
Computer, $10,000.
Scanner, $8,000.
Land for New Warehouse with an Old Building Torn Down
Purchase price, $250,000.
Demolition of building, $18,000.
Lumber sold from old building, $6,000.
Grading in preparation for new building, $22,000.
Construction of new building, $510,000.

Required:
In each of these cases, determine the amount of cost to be capitalized in the asset accounts.

Answers: 2

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Trinkle Company made several purchases of long-term assets in 2018. The details of each purchase are...

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