Your corporation has net fixed assets of $8,000,000 at the beginning of the year, and at the end of the year 2020, net fixed assets were $14,500,000. Depreciation expense for 2020 is $630,000. What is the net capital spending for 2020? Please show your formula and calculations in the space provided.

Your corporation has net fixed assets of $8,000,000 at the beginning of the year, and at the end of the year 2020, net fixed assets were $14,500,000. Depreciation expense for 2020 is $630,000. What is the net capital spending for 2020? Please show your formula and calculations in the space provided.

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 12P

See similar textbooks

Similar questions

Net Working CapitalIf your corporation's current assets are $350 and your current liabilities are $250, what is the net working capital for 2020? Please show your formula and calculations in the space provided.
How much working capital does Airbnb have for the year 2024? Discuss the components of working capital and calculations. What is the amount of the total assets that Airbnb reported for the year 2024? List the assets included. What is the amount of the total liabilities that tAirbnb reported for the year 2024? List the liabilities included.
Cash Flow From AssetsIf your corporation's operating cash flow for 2020 is $7,300, net capital spending is $3,500, and your change in net working capital is $1,600, what is your 2020 cash flow from assets? Please show your formula and calculations in the space provided.
To calculate the change in Net Working Capital (NWC) during FY24, we first need to find the NWC for both FY23 and FY24 using the formula: NWC=Current Assets−Current Liabilities Step 1: Calculate NWC for FY23 Current Assets (FY23): Cash: 211,000,000 Accounts Receivable: 508,000,000 Inventory: 41,000,000 Total Current Assets (FY23): 760,000,000 Current Liabilities (FY23): Accounts Payable: 622,000,000 Notes Payable: 377,000,000 Total Current Liabilities (FY23): 999,000,000 NWC (FY23)=760,000,000−999,000,000=−239,000,000 Step 2: Calculate NWC for FY24 Current Assets (FY24): Cash: 329,800,000 Accounts Receivable: 626,800,000 Inventory: 100,400,000 Total Current Assets (FY24): 1,057,000,000 Current Liabilities (FY24): Accounts Payable: 531,000,000 Notes Payable: 442,000,000 Total Current Liabilities (FY24): 973,000,000NWC (FY24)=1,057,000,000−973,000,000=84,000,000 Step 3: Calculate the Change in NWC during FY24 Change in NWC=NWC (FY24)−NWC…
Investment in Total Net Operating Capital Athenian Venues Inc. just reported the following selected portion of its financial statements for the end of 2020. Your assistant has already calculated the 2020 end-of-year net operating working capital (NOWC) from the full set of financial statements (not shown here), which is $20 million. The total net operating capital for 2019 was $44 million. What was the 2020 net investment in operating capital? Athenian Venues Inc.: Selected Balance Sheet Information as of December 31 (Millions of Dollars) 2020
Target entered fiscal 2019 with a total capitalization of $21,928 million. In 2019, debt investors received interest income of $885 million. Net income to shareholders was $8,678 million. (Assume a tax rate of 21%.) Calculate the economic value added assuming its cost of capital is 10%.
Target entered fiscal 2019 with a total capitalization of 21898 million. In 2019, debt investors received interest income of $875 million. Net income to shareholders was 8,648 million (assume a taxe rate of 21%) calculate the economic value added assuming its cost of capital is 10%
U.S. Metallurgical Incorporated reported the following balances in its financial statements and disclosure notes at December 31, 2023. Plan assets Projected benefit obligation $440,000 250,000 U.S.M.'s actuary determined that 2024 service cost is $64,000. Both the expected and actual rate of return on plan assets are 10%. The Interest (discount) rate is 6%. U.S.M. contributed $124,000 to the pension fund at the end of 2024, and retirees were paid $48,000 from plan assets. Required: 1. What is the pension expense at the end of 2024? 2. What is the projected benefit obligation at the end of 2024? 3. What is the plan assets balance at the end of 2024? 4. What is the net pension asset or net pension liability at the end of 2024? 5. Prepare journal entries to record the (a) pension expense, (b) funding of plan assets, and (c) retiree benefit payments. Complete this question by entering your answers in the tabs below. Req 1 to 4 Req 5 Prepare journal entries to record the (a) pension…
Please help me this question general accounting
U.S. Metallurgical Incorporated reported the following balances in its financial statements and disclosure notes at December 31, 2023. Plan assets $ 420,000 Projected benefit obligation 350,000 U.S.M.’s actuary determined that 2024 service cost is $62,000. Both the expected and actual rate of return on plan assets are 10%. The interest (discount) rate is 4%. U.S.M. contributed $122,000 to the pension fund at the end of 2024, and retirees were paid $46,000 from plan assets. Required: What is the pension expense at the end of 2024? What is the projected benefit obligation at the end of 2024? What is the plan assets balance at the end of 2024? What is the net pension asset or net pension liability at the end of 2024? Prepare journal entries to record the (a) pension expense, (b) funding of plan assets, and (c) retiree benefit payments.
I need this question answer general accounting question
Suppose a company spends $100,000 on research and development in 2021. As a result of the products developed, additional revenue is generated over the next five years totaling $600,000. When is the cost of the research and development in 2021 recognized as an expense? Multiple Choice Evenly over the period 2022-2026. Full amount in 2026. Evenly over the period 2021-2025. Full amount in 2021.