Rotweiler Obedience School’s December 31, 2013, balance sheet showed net fixed a
ID: 2757599 • Letter: R
Question
Rotweiler Obedience School’s December 31, 2013, balance sheet showed net fixed assets of $1,725,000, and the December 31, 2014, balance sheet showed net fixed assets of $2,040,000. The company’s 2014 income statement showed a depreciation expense of $321,000. (Enter your answer as directed, but do not round intermediate calculations.)
What was Rotweiler’s net capital spending for 2014? (Enter your answer in dollars, not millions of dollars (e.g., 1,234,567).)
Rotweiler Obedience School’s December 31, 2013, balance sheet showed net fixed assets of $1,725,000, and the December 31, 2014, balance sheet showed net fixed assets of $2,040,000. The company’s 2014 income statement showed a depreciation expense of $321,000. (Enter your answer as directed, but do not round intermediate calculations.)
Explanation / Answer
Net Fixed Assets as on 31st December 2013 $1,725,000.00 Less: Depreciation for the year 2014 $321,000.00 Expected Net Fixed Assets as on 31st December 2014 (A) $1,404,000.00 Actual Net Fixed Assets as on 31st December 2014 (B) $2,040,000.00 Net Capital Spending for 2014 (B-A) $636,000.00
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