What was the company net capital spending for the year

Assignment Help Accounting Basics
Reference no: EM132461080

Problem - Micro, Inc., started the year with net fixed assets of $74,675. At the end of the year, there was $95,825 in the same account, and the company's income statement showed depreciation expense of $12,795 for the year. What was the company's net capital spending for the year?

Reference no: EM132461080

Questions Cloud

How do the terms relevant : What are some of the barriers/obstacles to obtaining appropriate and sufficient evidence? How can those barriers be overcome?
Changes in relative prices of inputs : There may appear to be times when a firm does not appear to adjust input use to changes in relative prices of inputs. Explain why this might be the case.
What was the company cash flow to stockholders : During the year, the company sold $75,750 in new common stock. What was the company's cash flow to stockholders
Implies about the group price elasticity relative : After the tax is implemented, do consumers or producers face any tax burden? If so, then state who faces a higher burden, and what this implies about the group
What was the company net capital spending for the year : The company's income statement showed depreciation expense of $12,795 for the year. What was the company's net capital spending for the year
Write a formula that determines whether we get the painting : Write a formula that (given the bids of our four competitors and our bid) determines whether we get the painting.We are bidding on a valuable painting.
Opportunity to train employee in java : Accounting Firm in Silicon Valley has opportunity to train employee in Java (programming) and accounting law for 1 month
What is a real-life example of a price-searcher : What is a "real-life" example of a price-searcher (business firm) in the United States that currently practices what defines as "price discrimination"?
Calculate the amount of the annual rental payment required : Pronghorn desires a 9% rate of return on its investments. Stellar's incremental borrowing rate is 10%, Calculate amount of the annual rental payment required

Reviews

Write a Review

Accounting Basics Questions & Answers

  Journalize all entries required on the given dates

Journalize all entries required on the above dates, including entries to update depreciation, where applicable, on assets disposed of. Ridge Company

  Airjet best parts inc would like to issue 20-year bonds to

airjet best parts inc. would like to issue 20-year bonds to obtain remaining funds for the new mexico plant. the

  Credit sales method to record bad debt

Lighthouse, Inc. uses the percentage of credit sales method to record bad debt and estimates the percentage to be 2.5%. What is the adjusting entry to record bad debt on 12/31/10?

  What is a just-in-time inventory system

What is a just-in-time (JIT) inventory system? Name some inventory costs that can be eliminated or reduced by its use.

  What is the total amount of assets invested in polaris

What is the total amount of assets invested in Polaris? Total amount of assets invested in Polaris is $1,228,024

  What was the annual amount of depreciation for the years

What was the annual amount of depreciation for the years 2011,2012, and 2013 assumming straight line method used

  Standard price of material specified 10 standard quantity

standard price of material specified 10 standard quantity of specified material per unit of product 20 kg actual price

  Alameda service center just purchased an automobile hoist

alameda service center just purchased an automobile hoist for 15300. the hoist has a 5-year life and an estimated

  For the last eight months of 2009 jo company incurred the

for the last eight months of 2009 jo company incurred the following activity levels and shipping department

  2alpaca corporation had revenues of 295000 in its first

2.alpaca corporation had revenues of 295000 in its first year of operations. the company has not collected on 19800 of

  Which of the given accounts is not a liability account

Which of the following accounts is not a liability account? Which of the following items are requirements of double-entry accounting?

  Journal entry to record transaction by perpetual inventory

On December 1, 2008, ABC Linens sold merchandise which costs $400 on account to the Green Hotel Co. for $600 with terms of 3/10, n/30. ABC Linens uses a perpetual inventory system. The journal entry to record this transaction on ABC Linens' books ..

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd