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julia-pushkina [17]
2 years ago
7

2019 balance sheet showed net fixed assets of $5.2 million, and the 2020 balance sheet showed net fixed assets of $5.8 million.

The company’s 2020 income statement showed a depreciation expense of $335,000. What was the company's net capital spending for 2020?
Business
1 answer:
Allushta [10]2 years ago
5 0

Answer: $935,000

Explanation:

Net capital spending refers to the amount spent on acquiring new fixed assets.

= 2020 net fixed assets + 2020 depreciation - 2019 net fixed assets

= 5,800,000 + 335,000 - 5,200,000

= $935,000

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