Bowyer Driving School's beginning-of-year balance sheet showed net fixed assets of $2.7 million, and the end-of-year balance sheet showed net fixed assets of $3.5 million. The company's income statement showed a depreciation expense of $328,000. What was net capital spending?

Bowyer Driving School's beginning-of-year balance sheet showed net fixed assets of $2.7 million, and the end-of-year balance sheet showed net fixed assets of $3.5 million. The company's income statement showed a depreciation expense of $328,000. What was net capital spending?

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter9: Responsibility Accounting And Decentralization

Section: Chapter Questions

Problem 3PA: The income statement comparison for Forklift Material Handling shows the income statement for the...

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Question

What was net capital spending on these general accounting question? Please answer do fast

Bowyer Driving School's beginning-of-year balance sheet showed
net fixed assets of $2.7 million, and the end-of-year balance sheet
showed net fixed assets of $3.5 million. The company's income
statement showed a depreciation expense of $328,000.
What was net capital spending?

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