Bowyer Driving School’s 2014 balance sheet showed net fixed assets of $3.4 milli

Question

Bowyer Driving School’s 2014 balance sheet showed net fixed assets of $3.4 million, and the 2015 balance sheet showed net fixed assets of $3.9 million. The company’s 2015 income statement showed a depreciation expense of $325,000.

What was net capital spending for 2015? (Do not round intermediate calculations. Enter your answer in dollars, not millions of dollars, e.g., 1,234,567.)

Bowyer Driving School’s 2014 balance sheet showed net fixed assets of $3.4 million, and the 2015 balance sheet showed net fixed assets of $3.9 million. The company’s 2015 income statement showed a depreciation expense of $325,000.

Bowyer Driving School's 2014 balance sheet showed net fixed assets of $3.4 million, and the 2015 balance sheet showed net fixed assets of $3.9 million. The company's 2015 income statement showed a depreciation expense of $325,000 What was net capital spending for 2015? (Do not round intermediate calculations. Enter your answer in dollars, not millions of dollars, e.g., 1,234,567.) Net capital spending

Explanation / Answer

Net fixed Assets As on 2015 Balance Sheet (A) 3,900,000.00 Add: Depreciation Exp. for the year (B)      325,000.00 Total (A+B)       4,225,000.00 Less: Net fixed Assets As on 2014 Balance Sheet 3,400,000.00 Capital Spending for 2015           825,000.00

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