Question

Nielsen Auto Parts had beginning net fixed assets of $218,470 and ending net fixed assets of $209,411. During the year, assets with a combined book value of $6,943 were sold. Depreciation for the year was $42,822. What is the amount of net capital spending?

Answer 1

Answer:

Capital Expenditure during the year 40,706

Explanation:

opening assets                        =                  218470

less: Depriciation for the year =                  (42822)

less: Disposal of assets           =                   (6943)

less: Closin Assets                   =                   (209411)

Balancing figure additions       =                   40706