joneskai70231 joneskai70231

06-02-2020
Business

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Awnings Incorporated has beginning net fixed assets of $234,100 and ending net fixed assets of $243,600. Assets valued at $42,500 were sold during the year. Depreciation was $62,500. What is the amount of net capital spending?

Respuesta :

hyderali230 hyderali230

07-02-2020

Answer:

Net Capital Spending = $72,000

Explanation:

Formula for Net capital Spending:

Net Capital Spending = Net Increase in Fixed Asset + Depreciation

Net Capital Spending = ( $243,600 - $234,100 ) + $62,500

Net Capital Spending = $9,500 + $62,500

Net Capital Spending = $72,000

Sale of asset is already accounted for in the ending net balance of fixed assets.

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