Your income so you dont overspend
Answer:
$500 credit
Explanation:
Given that
Number of authorized shares = 1,000 shares
Stated value per share = $10
Issued shares = 50 shares
Initial offering = $20 per share
So based on above information, the journal entry is
Cash $500 (50 shares × $10)
To Common stock $500
(Being the common stock is issued is recorded)
While recording this transaction we debited the cash account as it increased the asset side and credited the common stock as the equity is increased so that the proper posting could be done
Answer:
Law created a private national bank and issued paper money, based on the wealth of the French government, in the hopes to pull France out of debt.
-BBBM
Answer:
$18,750
Explanation:
The double declining method of depreciation (DDB) formula is:
DDB= 2 * Cost of the asset * Depreciation rate (DR)
DR= (1/useful life)*100
For this problem:
Value to depreciate: $75,000
DR= (1/4)*100= 25%
DEPRECIATION YEAR 1: DDB= 2 * $75,000*25%= $37,500
Machine´s value year 1: $75,000-$37,500= $37,500
DEPRECIATION YEAR 2: DDB= 2*37,500*25%= $18,750