For the past year, Galaxy Interiors had depreciation of $2,419, beginning total assets of $23,616, and ending total assets of $21,878. Current assets decreased by $1,356. What was the amount of net capital spending for the year?

Question

Quizplus · Accepted Answer

Net capital spending = Depreciation - (Ending total assets - Beginning total assets) + Change in current assets= $2,419 - ($21,878 - $23,616) + $1,356= $2,419 - $1,738 + $1,356= $2,037

For the Past Year, Galaxy Interiors Had Depreciation of $2,419