Trinkle Co., Inc. made several purchases of long-term assets in Year 1. The details of each purchase are presented here. New Office Equipment 1. List price: $40,900; terms: 2/10 n/30; paid within discount period. 2. Transportation-in: $780. 3. Installation: $490. 4. Cost to repair damage during unloading: $499. 5. Routine maintenance cost after six months: $240. Basket Purchase of Copier, Computer, and Scanner for $48,700 with Fair Market Values 1. Copier, $20,545. 2. Computer, $9,392. 3. Scanner, $28,763. Land for New Warehouse with an Old Building Torn Down 1. Purchase price, $83,200. 2. Demolition of building, $5,380. 3. Lumber sold from old building, $1,760. 4. Grading in preparation for new building. $6,300. 5. Construction of new building, $276,000. Required In each of these cases, determine the amount of cost to be capitalized in the asset accounts. Office equipment: Asset Office equipment __
Basket purchase:
Asset Allocated Cost
Copier Computer Scanner Total Land and building: Asset Allocated Costs
Cost of land Construction costs Total cost