BassiCorporation had a beginning and ending fixed asset balance of $400 and $650 respectively. During the year its net capital spending was $330. Given this information, determine the company's depreciation expense.

Question

Quizplus · Accepted Answer

Depreciation expense = (Ending fixed asset balance - Beginning fixed asset balance) - Net capital spending= ($650 - $400) - $330= $250 - $330= -$80

BassiCorporation Had a Beginning and Ending Fixed Asset Balance of $400