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blsea [12.9K]
3 years ago
9

Logano Driving School’s 2017 balance sheet showed net fixed assets of $4.6 million, and the 2018 balance sheet showed net fixed

assets of $5.2 million. The company’s 2018 income statement showed a depreciation expense of $330,000. What was net capital spending for 2018? (Do not round intermediate calculations. Enter your answer in dollars, not millions of dollars, e.g., 1,234,567.)
Business
1 answer:
r-ruslan [8.4K]3 years ago
8 0

Answer:

$270,000

Explanation:

Net capital spending = Increase in net fixed assets + Depreciation expenses

= [ Net fixed assets at year end - Net fixed assets at the beginning ] + Depreciation expenses

= [$5,200,000 - $4,600,000] + $330,000

= $600,000 - $330,000

= $270,000

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g A savings product requires you to invest the following amounts. 250 today, 450 in one year, 650 in two years, 850 in three yea
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$3,520.65

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As we know that

Future value = Present value × (1 + interest rate)^number of years

= $250 × (1 + 0.0275)^5 + $450 × (1 + 0.0275)^4 + $650 × (1 + 0.0275)^3 + $850 × (1 + 0.0275)^2 + $1,100 × (1 + 0.0275)^1

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3 years ago
8. EX.07-168
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3 years ago
Warner Company’s year-end unadjusted trial balance shows accounts receivable of $112,000, allowance for doubtful accounts of $73
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Answer:

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Bad debt expenses                            1,680

Accounts receivable                                                      1,680

<u><em>Being the amount Accounts receivable estimated to be uncollectible</em></u>

<u><em /></u>

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