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Problem:

Earnhardt Driving School's 2010 balance sheet showed net fixed assets of $2.8 million, and the 2011 balance sheet showed net fixed assets of $3.6 million. The company's 2011 income statement showed a depreciation expense of $345,000.

Required:

Question: What was net capital spending for 2011?

Note: Explain in detail.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M91169730

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