Question

Lester's Markets has total revenues of $3,811, costs of $2,902, depreciation of $315, interest expense of $168, and taxes of $89. At the beginning of the year, the firm had current assets of $2,150, total assets of $4,908, and total liabilities of $1,964. At the end of the year, the current assets are $2,202, total assets are $5,103, and total liabilities are $1,952. What is the amount of net capital spending for the year

Answer 1

Answer:

$458

Explanation:

Calculation for What is the amount of net capital spending for the year

Net capital spending = ($5,103 − 2,202) − ($4,908 − 2,150) + $315

Net capital spending =$2,901 − $2,758+ $315

Net capital spending = $458

Therefore the amount of net capital spending for the year will be $458