Trinkle Company made several purchases of long-term assets in 2018.

The details of each purchase are presented here.

New Office Equipment

1) List price $36,900; terms: 2/10, n/30; paid within the discount period.
2) Transportation-in $790.
3) Installation $570
4) Cost to repair damage during unloading $688.
5) Routine maintenance cost after eight months $100.

Basket Purchase of Copier, Computer, and Scanner for $48,800 with Fair Market Values

1) Copier $24,696.
2) Computer $8,232.
3) Scanner $25,872.

Land for New Warehouse with an Old Building Torn Down

1) Purchase price $79,800.
2) Demolition of building $4,630.
3) Lumber sold from old building $2,370.
4) Grading in preparation for new building $8,400.
5) Construction of new building $279,000.

Required:

In each of these cases, determine the amount of cost to be capitalized in the asset accounts.

What is the communication process? why isnt it possible to communicate without using all the elements in the communication process?

Amethod of allocating merchandise cost that assumes the first merchandise bought was the first merchandise sold is called the a. last-in, first-out method. b. first-in, first-out method. c. specific identification method. d. average cost method.

Required information lansing company’s 2017 income statement and selected balance sheet data (for current assets and current liabilities) at december 31, 2016 and 2017, follow. lansing company income statement for year ended december 31, 2017 sales revenue $130,200 expenses cost of goods sold 53,000 depreciation expense 17,500 salaries expense 29,000 rent expense 10,100 insurance expense 4,900 interest expense 4,700 utilities expense 3,900 net income $7,100 lansing company selected balance sheet accounts at december 31 2017 2016 accounts receivable $6,700 $8,000 inventory 3,080 2,090 accounts payable 5,500 6,800 salaries payable 1,100 810 utilities payable 440 270 prepaid insurance 370 500 prepaid rent 440 290 required: prepare the cash flows from operating activities section only of the company’s 2017 statement of cash flows using the indirect method. (amounts to be deducted should be indicated with a minus sign.)