Trinkle Co., Inc. made several purchases of long-term assets in Year 1. The details of each purchase are presented here. New Office Equipment List price: $35,300; terms: 2/10 n/30; paid within discount period. Transportation-in: $790. Installation: $570. Cost to repair damage during unloading: $660. Routine maintenance cost after eight months: $240. Basket Purchase of Copier, Computer, and Scanner for $46,400 with Fair Market Values Copier, $23,478. Computer, $8,944. Scanner, $23,478. Land for New Warehouse with an Old Building Torn Down Purchase price, $77,500. Demolition of building, $4,540. Lumber sold from old building, $1,570. Grading in preparation for new building, $9,600. Construction of new building, $235,000. Required In each of these cases, determine the amount of cost to be capitalized in the asset accounts.

Trinkle Co., Inc. made several purchases of long-term assets in Year 1. The details of each purchase are presented here. New Office Equipment List price: $35,300; terms: 2/10 n/30; paid within discount period. Transportation-in: $790. Installation: $570. Cost to repair damage during unloading: $660. Routine maintenance cost after eight months: $240. Basket Purchase of Copier, Computer, and Scanner for $46,400 with Fair Market Values Copier, $23,478. Computer, $8,944. Scanner, $23,478. Land for New Warehouse with an Old Building Torn Down Purchase price, $77,500. Demolition of building, $4,540. Lumber sold from old building, $1,570. Grading in preparation for new building, $9,600. Construction of new building, $235,000. Required In each of these cases, determine the amount of cost to be capitalized in the asset accounts.

Name: Trinkle Co., Inc. made several purchases of long-term assets in Year 1
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Description: Trinkle Co., Inc. made several purchases of long-term assets in Year 1. The details of each purchase are presented here. New Office EquipmentList price: $35,300; terms: 2/10 n/30; paid within discount period.Transportation-in: $790.Installation: $570

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter11: Long-term Assets

Section: Chapter Questions

Problem 4PB: During the current year, Arkells Inc. made the following expenditures relating to plant machinery. ...

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