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

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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 details of each purchase are presented here.
New Office Equipment
List price: $43,400; terms: 210,n30; paid within the discount period.
Transportation-in: $750.
Installation: $510.
Cost to repair damage during unloading: $515.
Routine maintenance cost after eight months: $220.
Basket Purchase of Copier, Computer, and Scanner for $48,700 with Fair Market Values
Copier, $26,415.
Computer, $11,153.
Scanner, $21,132.
Land for New Warehouse with an Old Building Torn Down
Purchase price, $83,100.
Demolition of building, $4,510.
Lumber sold from old building, $2,160.
Grading in preparation for new building, $7,600.
Construction of new building, $233,000.
Required
In each of these cases, determine the amount of cost to be capitalized in the asset accounts.
\table[[Asset,Allocated Costs,Total],[Office equipment,,],[Basket purchase:,,],[Copier,,],[Computer,,],[Scanner,,],[Total cost to be capitalized,,],[Land and building:,,],[Cost of land,,],[Construction costs,,],[Total cost to be capitalized,,]]
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