A county golf course is reported in an enterprise fund. At the beginning of the year, the fund reports net investment in capital assets of $18,000,000. During the year, the fund acquires equipment of $2,400,000, purchases a building for $6,000,000 financed in part by an $4,800,000 bank loan secured by the building, records $3,000,000 in depreciation on its buildings and equipment, and pays $60,000 in interest on capital-related debt. What is the ending balance for net investment in capital assets?

Answer rating: 100% (QA)

The ending balance for net investment in capital assets can be calculated as follows B... View the full answer