Micro, Inc., started the year with net fixed assets of $76,300. At the end of the year, there was $98,100 in the same ac...
Micro, Inc., started the year with net fixed assets of $76,300. At the end of the year, there was $98,100 in the same account, and the company's income statement showed depreciation expense of $14,030 for the year. What was the company's net capital spending for the year?
Homework Answers
Ending net fixed assets=Beginning net fixed assets + net capital spending-Depreciaiton expense
98100=76300+ net capital spending-14030
net capital spending=98100+14030-76300
=$35830.
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