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24 June, 08:31

A Corporation had net fixed assets of $2,000,000 at the end of 2019 and $1,800,000 at the end of 2018. In addition, the firm had a depreciation expense of $200,000 during 2019 and $180,000 during 2018. Using this information, the corporation's net fixed asset investment for 2019 was

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  1. 24 June, 08:37
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    Asset Account entries:

    Opening Net balance (2019) $2,000,000

    Less depreciation (2019) - $200,000

    Closing net balance (2019) $1,800,000

    Opening Net balance (2020) $1,800,000

    Add investment in Assets?

    Less depreciation (2020) - $180,000

    Closing net balance (2020) $1,800,000

    Investment in Assets (2020) = closing net Assets + depreciation - opening net assets

    = $1,800,000 + $180,000 - $1,800,000

    = $180,000.
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