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Problem 6-22A (Algo) Accounting for acquisition of assets, including a basket purchase LO 6-1 Trinkle...

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Accounting

Problem 6-22A (Algo) Accounting for acquisition of assets, including a basket purchase LO 6-1 Trinkle Company made several purchases of long-term assets during the year. The detalls of each purchase are presented here. New Offlce Equlpment 1. List price: \( \$ 41,100 \); terms: \( 2 / 10, n / 30 \); pald within the discount perlod. 2. Transportation-In: \( \$ 740 \). 3. Installation: \( \$ 470 \). 4. Cost to repalr damage during unloading: \( \$ 624 \). 5. Routine malntenance cost after elght month: \( \$ 150 \). Basket Purchase of Copler, Computer, and Scanner for \( \$ 53,500 \) with Falr Market Values 1. Copler, \( \$ 26,445 \). 2. Computer, \( \$ 9,030 \). 3. Scanner, \( \$ 29,025 \). Land for New Warehouse with an Old Bullding Torn Down 1. Purchase price, \( \$ 82,400 \). 2. Demolition of bullding, \( \$ 5,410 \). 3. Lumber sold from old bullding, \( \$ 2,210 \). 4. Grading In preparation for new bullding, \( \$ 9,500 \). 5. Construction of new bullding, \( \$ 217,000 \). Required In each of these cases, determine the amount of cost to be capitalized in the asset accounts.

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