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Determine the net capital spending

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Reference no: EM133118058

Question 1 - Wallace Driving School's 2020 balance sheet showed net fixed assets of $2.3 million, and the 2021 balance sheet showed net fixed assets of $3.1 million. The company's 2021 income statement showed a depreciation expense of $327,000. What was net capital spending for 2021?

Dec. 31, 2020 net fixed assets $2,300,000

Dec. 31, 2021 net fixed assets $3,100,000

Depreciation expense $327,000

1. Determine the net capital spending?

Question 2 - The 2020 balance sheet of Dugan, Inc., showed current assets of $5,320 and current liabilities of $2,510. The 2021 balance sheet showed current assets of $5,970 and current liabilities of $3,240. What was the company's 2021 change in net working capital, or NWC?

Dec. 31, 2020 Current assets $5,320

Dec. 31, 2020 Current liabilities $2,510

Dec. 31, 2021 Current assets $5,970

Dec. 31, 2021 Current liabilities $3,240

1. Determine the ending NWC?

2. Determine the beginning NWC?

3. Determine the additions to net working capital?

Question 3 - The 2020 balance sheet of Osaka's Tennis Shop, Inc., showed long-term debt of $2.25 million, and the 2021 balance sheet showed long-term debt of $2.66 million. The 2021 income statement showed an interest expense of $305,000. What was the firm's cash flow to creditors during 2021?

Dec. 31, 2020 Long-term debt $2,250,000

Dec. 31, 2021 Long-term debt $2,660,000

Interest expense $305,000

1. Determine the cash flow to creditors.

Reference no: EM133118058

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