Trinkle Company made several purchases of long-term assets during the year. The details of each purchase are presented her New Office Equipment 1. List price: $40,300; terms: 2/10, n/30, paid within the discount period. 2. Transportation-in: $740. 3. Installation: $470. 4. Cost to repair damage during unloading: $661. 5. Routine maintenance cost after eight months: $110. Basket Purchase of Copier, Computer, and Scanner for $50,100 with Fair Market Values 1. Copier, $23,556. 2. Computer, $11,476. 3. Scanner, $25,368. Land for New Warehouse with an Old Building Torn Down 1. Purchase price, $81,200. 2. Demolition of building, $5.200. 3. Lumber sold from old building, $2,440. 4. Grading in preparation for new building. $9.200. 5. Construction of new building, $231,000. Required In each of these cases, determine the amount of cost to be capitalized in the asset accounts.

Trinkle Company made several purchases of long-term assets during the year. The details of each purchase are presented her New Office Equipment 1. List price: $40,300; terms: 2/10, n/30, paid within the discount period. 2. Transportation-in: $740. 3. Installation: $470. 4. Cost to repair damage during unloading: $661. 5. Routine maintenance cost after eight months: $110. Basket Purchase of Copier, Computer, and Scanner for $50,100 with Fair Market Values 1. Copier, $23,556. 2. Computer, $11,476. 3. Scanner, $25,368. Land for New Warehouse with an Old Building Torn Down 1. Purchase price, $81,200. 2. Demolition of building, $5.200. 3. Lumber sold from old building, $2,440. 4. Grading in preparation for new building. $9.200. 5. Construction of new building, $231,000. Required In each of these cases, determine the amount of cost to be capitalized in the asset accounts.

Name: Trinkle Company made several purchases of long-term assets during the
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Description: Trinkle Company made several purchases of long-term assets during the year. The details of each purchase are presented herNew Office Equipment1. List price: $40,300; terms: 2/10, n/30, paid within the discount period.2. Transportation-in: $740.3. In

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter11: Long-term Assets

Section: Chapter Questions

Problem 5EA: Steele Corp. purchases equipment for $25,000. Regarding the purchase, Steele recorded the following...

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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.
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. determine the amount of cost to be capitalized in the asset account office equipment: ?
Trinkle Company, Incorporated made several purchases of long-term assets in Year 1. The details of each purchase are presented here. New Office Equipment List price: $36,100; terms: 2/10 n/30; paid within discount period. Transportation-in: $740. Installation: $580. Cost to repair damage during unloading: $615. Routine maintenance cost after six months: $260. Basket Purchase of Copier, Computer, and Scanner for $51,900 with Fair Market Values Copier, $22,500. Computer, $11,250. Scanner, $28,750. Land for New Warehouse with an Old Building Torn Down Purchase price, $75,700. Demolition of building, $5,070. Lumber sold from old building, $1,090. Grading in preparation for new building, $8,000 Construction of New Building Construction of new building, $231,000 RequiredIn 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 capitalized in the asset accounts. In case of land,…
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