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rodikova [14]
4 years ago
6

Logano Driving School’s 2017 balance sheet showed net fixed assets of $2.4 million, and the 2018 balance sheet showed net fixed

assets of $3.3 million. The company’s 2018 income statement showed a depreciation expense of $319,000. What was net capital spending for 2018? (Do not round intermediate calculations and enter your answer in dollars, not millions of dollars, e.g., 1,234,567.
Business
1 answer:
mamaluj [8]4 years ago
8 0

Answer:

The answer is: $1,219,000

Explanation:

The formula used to calculate Logano Driving School's net capital spending for the year is:

net fixed assets 2018 - net fixed assets 2017 + depreciation expense 2018

net capital spending = $3,300,000 - $2,400,000 + $319,000

net capital spending = $1,219,000

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Answer: Leased employee

Explanation:

Leased employee are employed by a service firm and assigned to work at a business or an organization.

They are contractual employee and paid on the basis of what is deemed in contract.

6 0
3 years ago
Which one of the following is not a benefit of budgeting?
MariettaO [177]

Answer:  Option C

                       

Explanation: Budgeting refers to the process under which an organisation tries to anticipate how much of their resources will be procured and used in the future for effectively complete their operations.

Budgeting is usually done by the accountants on the basis of past experiences and future expectations. Therefore, they can be seen as reliable but does not guarantee any kind of success as future is not certain.

5 0
3 years ago
Jack Company provides for bad debts expense at the rate of 2% of credit sales. The following data are available for 2013:
Aliun [14]

Answer:

$27,000

Explanation:

To calculate the balance for the Allowance for Doubtful Accounts account, we first have to calculate the total estimated bad debts for the year = $1,500,000 x 2% = $30,000.

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= $30,000 + $9,000 - $12,000 = $27,000

3 0
3 years ago
The Master Manufacturing Company has ust announced a tender offer for its own common stock Master is offering to buy up to 100%
VARVARA [1.3K]

Answer:

correct option is A. $0

Explanation:

given data

buy up to =  100%

stock =  $20 per share

outstanding shares = at least 64%

stock closed  NYSE up =  2.50

price = $18.75

to find out

if the customer were to tender the shares held long, the customer is assured of receiving

solution

as per given we can say that since the offer is contingent =  at lest 64% of share tendered

so that here if customer decides to tender than customer can not assured of any gain or we can say customer has not assurance of being paid for any share

and if customer want to cash out the position tender is not appropriate because contingent at least 64% of share being tendered

so here correct option is A. $0

3 0
4 years ago
In anonymous surveys, on average people rate themselves as "above average" with regard to characteristics such as intelligence,
BabaBlast [244]

Answer:

A. Overconfidence effect

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Overconfidence effect is a kind of bias whereby individual's subjective confidence in their own abilities is greater than the objective or actual performance accuracy of those abilities. During surveys, respondents usually have this kind of bias. An example is the one stated in the question whereby average people tend to fill that they are "above average" on certain features like intelligence and perceptiveness. It is a common bias as individuals usually assume that they are better than their real ability by overestimating those abilities inherently.

8 0
4 years ago
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