The following are costs related to the purchase of a second-hand piece of equipment.        Required:  Indicate with an 'X' in  the appropriate column whether the expenditure should be included in the cost of the asset.                 Include in the Not included     Asset total In the Asset Total Description of cost expenditure       Freight       Installation       Repair of vandalism during installation       Replacement of worn-out parts at time of purchase       Repair of damage incurred in reconditioning the equipment       Fees paid to attorney to review purchase agreement                               B             Computer equipment that was originally purchased for     $              170,000     and now has an accumulated depreciation balance of    $              130,000     is sold for cash of        $                60,000           Total  $              360,000     Required:  Record the sale of the computer equipment                       Date Account Description Debit Credit       Depreciatio expenses                       Accumulated depreciation

i need help with this question please

All amounts paid to acquire a long lived-asset and to get it ready for its intended use are referred to as OA. net book value OB. the cost of an asset OC salvage value O D. immediate expenses BEE

And c. Land and d. Factory building journal formal

Indicate whether each of the following expenditures should be classified as land, land improvements, buildings, equipment, or none of these. 1. 2. Parking lots Electricity used by a machine 3. Excavation costs 4. Interest on building construction loan 5. Cost of trial runs for machinery 6. Drainage costs 7. Cost to install a machine 8. Fences 9. Unpaid (past) property taxes assumed 10. Cost of tearing down a building when land and a building on it are purchased

Which of the following items is not a consideration when recording periodic depreciation on plant assets?   Question 9 options:   Salvage value   Estimated useful life   Cash needed to replace the plant asset   Cost

When considering the replacement of old equipment, which of the following item is relevant?   a-original cost of old equipment   b-accumulated depreciation on old equipment   c-future maintenance costs of old equipment   d-book value of old equipment   e-loss on disposal of old equipment

ss

Several expenditures are listed below. Indicate whether or not each expenditure would be included in the cost of acquisition for each item below. The answer box provides two options, Yes (if the expenditure would be included ) or No, (if the expenditure would not be included.) Cost testing materials and labor in testing a purchased machine Yes before use Compensation for injury to No construction worker Cost of overhaul to a used Yes machine purchased before initial use Cost of tearing down a building Yes on newly acquired land Repairs to a new machine Yes damaged while moving it into > > > > >

Trinkle Company made several purchases of long-term assets during the year. The details of each purchase are presented here. New Office Equipment 1. List price: $42,600; terms: 2/10, n/30; paid within the discount period. 2. Transportation-in: $880. 3. Installation: $400. 4. Cost to repair damage during unloading: $630. 5. Routine maintenance cost after eight months: $150. Basket Purchase of Copier, Computer, and Scanner for $52,500 with Fair Market Values 1. Copier, $23,421. 2. Computer, $12,027. 3. Scanner, $27,852. Land for New Warehouse with an Old Building Torn Down 1. Purchase price, $83,800. 2. Demolition of building, $4,760. 3. Lumber sold from old building, $1,780. 4. Grading in preparation for new building, $7,900. 5. Construction of new building, $279,000.