Question

Trinkle Co., Inc. made several purchases of long-term assets in Year 1. The details of each purchase are presented here.

Answer 1

Answer:

New Office Equipment $42,863

Basket Purchase Of Copier, Computer, Scanner $61,500

Land For New Warehouse $310,050

Explanation:

Calculation to determine the amount of cost to be capitalized in the asset accounts

NEW OFFICE EQUIPMENT

Amount of cost to be capitalised in the asset accounts = $41,900*0.98+$860+$510+$431

Amount of cost to be capitalised in the asset accounts =$41,062+$860+$510+$431

Amount of cost to be capitalised in the asset accounts =$42,863

BASKET PURCHASE OF COPIER, COMPUTER AND SCANNER

Amount of cost to be capitalised in the asset accounts = $22,755 + $6,765 + $31,980

Amount of cost to be capitalised in the asset accounts= $61,500

LAND FOR NEW WAREHOUSE with an old building torn down

Amount of cost to be capitalised in the asset accounts = $82,400 + $4,750 - $1,800 + $7,700 + $217,000

Amount of cost to be capitalised in the asset accounts = $310,050

Therefore The Amount of cost to be capitalised in the asset accounts are:

New Office Equipment $42,863

Basket Purchase Of Copier, Computer, Scanner $61,500

Land For New Warehouse $310,050