Provide explanations for the following related journal entries:
Definitions:
Net Fixed Assets
The value of a company's property, plant, and equipment minus depreciation, representing long-term investments in physical assets.
Straight-line Basis
A method of calculating depreciation of an asset, which evenly spreads the cost over its useful life.
Operating Income
Earnings before interest and taxes (EBIT), which shows a company's profit from its core business operations.
Tax Payments
Tax Payments are the compulsory financial charges or levies paid to the government by individuals, businesses, or other legal entities to fund public expenditures.
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