Kerch Co. had beginning net fixed assets of $216,478, ending net fixed assets of $211,652, and...
Kerch Co. had beginning net fixed assets of $216,478, ending net fixed assets of $211,652, and depreciation of $40,411. During the year, the company sold fixed assets with a book value of $7,918. How much did the company purchase in new fixed assets?
Choices:
$43,503
$32,493
$35,585
$34,157
$41,340
Homework Answers
Ending net fixed assets = Beginning net fixed assets + purchases - sales - depreciation
Purchases = Ending net fixed assets - Beginning net fixed assets + sales + depreciation
Purchases = 211,652 - 216,478 +40,411 + 7,918
Purchases = $43,503
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