During 2007 the assets of Inspiring Sky increased by $30,000, and the liabilities increased by $15,000. If the owners' equity in Blue Sky is $84,000 at the end of 2007, the owner's equity at the beginning of 2007 must have been __.
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During 2007 the assets of Inspiring Sky increased by $30,000, and the liabilities increased by $15,000. If the owners' equity in Blue Sky is $84,000 at the end of 2007, the owner's equity at the beginning of 2007 must have been __.

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- On January 1, 2017. Agronomist Inc. had a balance of $340,000 in the long-term investments account. During 2017, Agronomist Inc. sold long-term investments for $115,000 cash, resulting in a $13,000 gain. On December 31, 2013, the long-term investments account showed a balance of $380,000. The long-term investments purchased during 2013 totalled: a) $75,000 b) $155,000 c) $142,000 d) $265,000Logano Driving School’s 2017 balance sheet showed net fixed assets of $5.1 million, and the 2018 balance sheet showed net fixed assets of $6.0 million. The company’s 2018 income statement showed a depreciation expense of $245,000. What was net capital spending for 2018? (Do not round intermediate calculations. Enter your answer in dollars, not millions of dollars, e.g., 1,234,567.)Huron has provided the following year-end balances:· Cash, $25,000· Long-term Investments, $7,900· Accounts receivable, $9,300· Property, plant, and equipment, $98,700· Prepaid insurance, $3,600· Accumulated depreciation, $10,000· Inventory, $37,000· Retained earnings, $12,600How much are Huron's current assets? Group of answer choices a)$74,900. B)$163,600. c)$87,500.D)$95,400
- ADDITIONAL INFORMATION (see attached images) During month of May 2020, an increase of 1,050 shares with a value of $500 each was made, which were paid in cash. Consider a premium of 20%. Vehicle purchases in 2020 were $65,625; additionally, vehicles have a total cost of $131,250 and an accumulated depreciation of $26,250 which were sold for $118,125. Some vehicles that are fully depreciated were written off. Cost was $21,000. During December 2020, land and buildings were acquired for $3,150,000 for a plant expansion. For its coverage, $1,050,000 was paid in cash, and to pay for remainder was paid in cash and a mortgage was taken out with Royal Bank. Furniture and equipment were purchased for $35,000. During 2020, dividends totaling $250,000 were declared and paid. In addition, $132,000 in common shares were paid considering same conditions as the May 2020 increase (see info N° 1). Difference generated was paid in cash. Depreciation of vehicles and furniture and equipment were recorded…Wallace Driving School's 2020 balance sheet showed net fixed assets of $3.8 million, and the 2021 balance sheet showed net fixed assets of $4.1 million. The company's 2021 income statement showed a depreciation expense of $415,000. What was net capital spending for 2021? (Do not round intermediate calculations and enter your answer in dollars, not millions of dollars, e.g., 1,234,567.) Net capital spendingCasello Mowing & Landscaping's year-end 2018 balance sheet lists current assets of $435,400, fixed assets of $550,600, current liabilities of $416,800, and long-term debt of $314,900. Calculate Casello's total stockholders' equity. Crane Company purchases a new delivery truck for $50,000. The sales taxes are $5,000. The logo of the company is painted on the side of the truck for $1,600. The truck's annual license is $130. The truck undergoes safety testing for $270. What does Crane record as the cost of the new truck? A) $56,870 B) $54,870 C) $55,000 D) $57,000 Which of the following account titles should the following expenditure be debited: Paid $7,000 of accrued taxes at the time the plant site was acquired? a. Land Improvements b. Land c. Prepaid Insurance d. License Expense e. Equipment
- Wallace Driving School’s 2020 balance sheet showed net fixed assets of $4.7 million, and the 2021 balance sheet showed net fixed assets of $5.3 million. The company’s 2021 income statement showed a depreciation expense of $405,000. What was net capital spending for 2021?Earnhardt Driving School's 2018 balance sheet showed net fixed assets of $5.5 million, and the 2019 balance sheet showed net fixed assets of $6.1 million. The company's 2019 income statement showed a depreciation expense of $360, 000. What was the company's net capital spending for 2019? (Do not round intermediate calculations and enter your answer in dollars, not millions of dollars, e.g .. 1,234,567.)Wallace Driving School's 2020 balance sheet showed net fixed assets of $5.4 million, and the 2021 balance sheet showed net fixed assets of $6 million. The company's 2021 income statement showed a depreciation expense of $425,000. What was net capital spending for 2021? (Do not round intermediate calculations and enter your answer in dollars, not millions of dollars, e.g., 1,234,567.) Net capital spending 20 000 000
- Schwert Corp. shows the following information on its 2019 income statement: sales = $246,000; costs = $135,000; other expenses = $7,100; depreciation expense = $19,100; interest expense = $10,000; taxes = $18,876; dividends = $9,800. In addition, you’re told that the firm issued $7,900 in new equity during 2019 and redeemed $6,800 in outstanding long-term debt. Net capital spending is X. There is no change in net working capital. What is X?For Year 2020, a local franchise commercial landscaping company, had sales of $42,500, cost of goods sold of $27,900, depreciation expense of $1,900, interest expense of $1,450, and dividends paid of $900. At the beginning of the year, net fixed assets were $15,000, current assets were $8,900, and current liabilities were $5,600. At the end of the year, net fixed assets were $17,600, current assets were $8,900, and current liabilities were $7,800. The tax rate was 34 percent. What is the cash flow from assets for 2020? The formula I have for Cash Flow needs different information than what has been given and I cannot figure out how to adjust currently.Fisher Inc. has determined the following information related to operations for 2025: Revenue from sales 7,000,000 Expenses 4,000,000 Income before income taxes 3,000,000 In reviewing the records, you discovered the following items: During 2025, the company discovered an error in depreciation in 2024. The correction of this error, which has not been recorded, will result in an increase in depreciation for 2024 of P200,000. During 2025, the company sustained a loss of P400,000 because of flood, which destroyed its inventory. The company charged retained earnings and credited inventory for P400,000. How much is the correct profit before tax for the year 2025?











