Swell, Inc

question 51

Multiple Choice

Swell, Inc. had net fixed assets of $6.5 million on December 31, 2017 and $11 million on December 31, 2018. If Swell's depreciation expense for 2018 was $750,000, what was the firm's 2018 capital spending?

• A) $3.75 million
• B) $4.25 million
• C) $4.50 million
• D) $5.25 million
• E) $6.75 million

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Definitions:

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A formal document that is legally enforceable or that can serve as evidence in a legal proceeding.

Intestate

The state of dying without a will.

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A surviving spouse is the husband or wife left alive after the other has passed away.

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A type of trust explicitly created by a settlor, typically in writing, specifying the trust's terms, beneficiaries, and the trustee's duties.