1. List price: $44,300; terms: 2/10, n/30, paid within the 2. Transportation-in: $800. 3. Installation: $540. 4. Cost to repair damage during unloading: $549. 5. Routine maintenance cost after eight months: $140. Basket Purchase of Copier, Computer, and Scanner for $47,200 with Fair Market Values 1. Copier, $23,898. 2. Computer $6.259
1. List price: $44,300; terms: 2/10, n/30, paid within the 2. Transportation-in: $800. 3. Installation: $540. 4. Cost to repair damage during unloading: $549. 5. Routine maintenance cost after eight months: $140. Basket Purchase of Copier, Computer, and Scanner for $47,200 with Fair Market Values 1. Copier, $23,898. 2. Computer $6.259
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:nces
1. List price: $44,300; terms: 2/10, n/30; paid within the discount period.
2. Transportation-in: $800.
3. Installation: $540.
4. Cost to repair damage during unloading: $549.
5. Routine maintenance cost after eight months: $140.
Basket Purchase of Copier, Computer, and Scanner for $47,200 with Fair Market Values
1. Copier, $23,898.
2. Computer, $6,259.
3. Scanner, $26,743.
Land for New Warehouse with an Old Building Torn Down
1. Purchase price, $81,800.
2. Demolition of building, $5,380.
3. Lumber sold from old building, $1,090.
4. Grading in preparation for new building, $7,600.
5. Construction of new building, $208,000.
Required
In each of these cases, determine the amount of cost to be capitalized in the asset accounts.
Office equipment
Basket purchase
Copier
Asset
Computer
Scanner
Total cost to be capitalized
Land and building
Cost of land
Construction costs
Total cost to he ranitalized
Allocated Costs
Total
$
44,754
$
25,204
S
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