A firm had fixed assets of $10,000 at the beginning of the year and $12,000 at the end of the year. You also know that the firm sold $5,000 in fixed assets over the year. How much in fixed assets must they have purchased?

A firm had fixed assets of $10,000 at the beginning of the year and $12,000 at the end of the year. You also know that the firm sold $5,000 in fixed assets over the year. How much in fixed assets must they have purchased?

Intermediate Financial Management (MindTap Course List)

13th Edition

ISBN:9781337395083

Author:Eugene F. Brigham, Phillip R. Daves

Publisher:Eugene F. Brigham, Phillip R. Daves

Chapter6: Accounting For Financial Management

Section: Chapter Questions

Problem 4P: Talbot Enterprises recently reported an EBITDA of $8 million and net income of $2.4 million. It had...

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correct answer please

A firm had fixed assets of $10,000 at the
beginning of the year and $12,000 at the
end of the year. You also know that the firm
sold $5,000 in fixed assets over the year.
How much in fixed assets must they have
purchased?

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