Trinkle Company, Incorporated made several purchases of long-term assets In Year 1. The detals of each...
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Trinkle Company, Incorporated made several purchases of long-term assets In Year 1. The detals of each purchase are presented here. New Office Eguipment 1. List price: $39,600; terms: 2/10 n/30; pald within discount perlod. 2. Transportation-In: $760. 3. Installation: $580. 4. Cost to repalr damage during unloading: $528. 5. Routine malntenance cost after six months: $280. Basket Purchase of Copier, Computer, and Scanner for $48,100 with Fair Market Values 1. Copler, $24,360. 2. Computer, $6,960. 3. Scanner, $26,680. Land for New Warehouse with an Old Bullding Torn Down 1. Purchase price, $82,100. 2. Demolition of bullding, $5,380. 3. Lumber sold from old bullding, $2,760. 4. Grading in preparation for new bullding, $7,900 Construction of New Bullding 1. Construction of new bulding, $200,000 Requlred In 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, determine the amount of cost to be capitalized In the asset accounts. In case of new bullding, determine the amount of cost to be capitalized in the asset accounts. Complete this question by entering your answers in the tabs below. Office Equipment Basket Purchase Land Building In case of office equipment, determine the amount cost to be capitalized in the asset accounts. Asset Capitalized Cost Office equipment < Office Equipment Basket Purchase > Trinkle Company, Incorporated made several purchases of long-term assets In Year 1. The detals of each purchase are presented here. New Office Eguipment 1. List price: $39,600; terms: 2/10 n/30; pald within discount perlod. 2. Transportation-In: $760. 3. Installation: $580. 4. Cost to repalr damage during unloading: $528. 5. Routine malntenance cost after six months: $280. Basket Purchase of Copier, Computer, and Scanner for $48,100 with Fair Market Values 1. Copler, $24,360. 2. Computer, $6,960. 3. Scanner, $26,680. Land for New Warehouse with an Old Bullding Torn Down 1. Purchase price, $82,100. 2. Demolition of bullding, $5,380. 3. Lumber sold from old bullding, $2,760. 4. Grading in preparation for new bullding, $7,900 Construction of New Bullding 1. Construction of new bulding, $200,000 Requlred In 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, determine the amount of cost to be capitalized In the asset accounts. In case of new bullding, determine the amount of cost to be capitalized in the asset accounts. Complete this question by entering your answers in the tabs below. Office Equipment Basket Purchase Land Building In case of office equipment, determine the amount cost to be capitalized in the asset accounts. Asset Capitalized Cost Office equipment < Office Equipment Basket Purchase >
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Related Book For
Fundamental Financial Accounting Concepts
ISBN: 978-0078025907
9th edition
Authors: Thomas Edmonds, Christopher Edmonds
Posted Date:
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