During 2022, the assets of Incredible Heights increased by $60,000, and the liabilities increased by $18,000. If the owner's equity in Incredible Heights is $130,000 at the end of2022, the owner's equity at the beginning of 2022 must have been __.
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During 2022, the assets of Incredible Heights increased by $60,000, and the liabilities increased by $18,000. If the owner's equity in Incredible Heights is $130,000 at the end of2022, the owner's equity at the beginning of 2022 must have been __.
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- Prepare the journal entry to record the capitalization of interest and the recognition of interest expense, if any, at December 31, 2025.Rottweiler Obedience School's December 31, 2021, balance sheet showed net fixed assets of $1,760,000, and the December 31, 2022, balance sheet showed net fixed assets of $2,110,000. The company's 2022 income statement showed a depreciation expense of $328,000. What was the company's net capital spending for 2022? Note: Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32. Net capital spendingAurora Trucking's 2023 balance sheet showed net fixed assets of $2.4 million, while its 2022 balance sheet showed net fixed assets of $2.3 million. It's 2023 income statement reported depreciation expense of $240,000. How much did Aurora spend to acquire new fixed assets during 2023?
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