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QveST [7]
4 years ago
11

Logano Driving School’s 2017 balance sheet showed net fixed assets of $3.8 million, and the 2018 balance sheet showed net fixed

assets of $6.9 million. The company's 2018 income statement showed a depreciation expense of $835,000. What was net capital spending for 2018?
Business
1 answer:
zvonat [6]4 years ago
7 0

Answer:

$3,935,000

Explanation:

Ending net fixed assets = Beginning net fixed assets + Net capital spending - Depreciation

6,900,000 = 3,800,000 + Net capital spending - $835,000

Net capital spending = (6,900,000 + $835,000 - 3,800,000)

                                  = $3,935,000

Therefore, the net capital spending for 2018 is $3,935,000.

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Harman [31]

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4 0
4 years ago
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arsen [322]

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So, we can calculate the future value by using financial calculator.

The attachment is attached below.

So, FV = $478.25

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