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26 November, 18:31

Plenti-Good Foods has ending net fixed assets of $98,700 and beginning net fixed assets of $84,900. During the year, the firm sold assets with a total book value of $13,200 and also recorded $9,800 in depreciation expense. How much did the company spend to buy new fixed assets?

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  1. 26 November, 20:04
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    Company spend to buy new fixed assets = $36,800

    Explanation:

    Given:

    Ending net fixed assets = $98,700

    Beginning net fixed assets = $84,900

    Total book value = $13,200

    Depreciation expense = $9,800

    Now,

    Company spend to buy new fixed assets

    = ending net fixed asset + sold asset book value + depreciation - begnning net fixed asset

    or

    Company spend to buy new fixed assets

    = $98,700 + $13,200 + $9,800 - $84,900

    or

    Company send to buy new fixed assets = $36,800
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