Rotweiler Obedience School’s December 31, 2018, balance sheet showed net fixed assets of $1,745,000, and the...
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Rotweiler Obedience School’s December 31, 2018, balance sheet showed net fixed assets of $1,745,000, and the December 31, 2019, balance sheet showed net fixed assets of $2,080,000. The company’s 2019 income statement showed a depreciation expense of $325,000. |
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What was the company's net capital spending for 2019? (Do not round intermediate calculations and enter your answer in dollars, not millions of dollars, rounded to the nearest whole number, e.g., 1,234,567.) |
Homework Answers
| Company's Net Capital spending: | |||
| Ending Net Fixed assets | = | $ 20,80,000 | |
| Add: | Depreciation | = | $ 3,25,000 |
| Less: | Beginning Net Fixed assets | = | $ -17,45,000 |
| Net Capital spending | = | $ 6,60,000 | |
| Therefore, Net capital spending for 2019 is $660,000 | |||
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