New Office Equipment 1. List price: $37,500; terms: 1/10, n/30; paid within the discount period. 2....

 

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New Office Equipment 1. List price: $37,500; terms: 1/10, n/30; paid within the discount period. 2. Transportation-in: $870. 3. Installation: $540. 4. Cost to repair damage during unloading: $449. 5. Routine maintenance cost after eight months: $150. Basket Purchase of Office Furniture, Copier, Computers, and Laser Printers for $47,100 with Fair Market Values 1. Office furniture, $20,979. 2. Copier, $9,639. 3. Computers and printers, $26,082. Land for New Headquarters with Old Barn Torn Down 1. Purchase price, $79,000. 2. Demolition of barn, $4,930. 3. Lumber sold from old barn, $2,060. 4. Grading in preparation for new building, $9,800. 5. Construction of new building, $294,000. Required In each of these cases, determine the amount of cost to be capitalized in the asset accounts. Asset Allocated Cost Office equipment Basket purchase Office furniture Copier Computers and printers 0 Total Land and building Cost of land Construction costs Total $ 0 New Office Equipment 1. List price: $37,500; terms: 1/10, n/30; paid within the discount period. 2. Transportation-in: $870. 3. Installation: $540. 4. Cost to repair damage during unloading: $449. 5. Routine maintenance cost after eight months: $150. Basket Purchase of Office Furniture, Copier, Computers, and Laser Printers for $47,100 with Fair Market Values 1. Office furniture, $20,979. 2. Copier, $9,639. 3. Computers and printers, $26,082. Land for New Headquarters with Old Barn Torn Down 1. Purchase price, $79,000. 2. Demolition of barn, $4,930. 3. Lumber sold from old barn, $2,060. 4. Grading in preparation for new building, $9,800. 5. Construction of new building, $294,000. Required In each of these cases, determine the amount of cost to be capitalized in the asset accounts. Asset Allocated Cost Office equipment Basket purchase Office furniture Copier Computers and printers 0 Total Land and building Cost of land Construction costs Total $ 0

Answer rating: 100% (QA)

Amt 37500 375 37125 870 540 449 38984 Particulars Office Equipment Cost of Equipment Less Discount 1 ... View the full answer