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Using the double declining-balance depreciation method, the vehicle's second year depreciation expense is: $2,812.50.
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Second year depreciation expense </h3>
First step is to calculate the first year depreciation expense
First year depreciation expense=15,000×(100%/8 x 2)
First year depreciation expense=15,000 x 25%
First year depreciation expense=3,750
Second step is to calculate Second year depreciation expense
Second year depreciation expense = (15,000-3750) x 25%
Second year depreciation expense=11,250x 25%
Second year depreciation expense =2812.50
Therefore Using the double declining-balance depreciation method, the vehicle's second year depreciation expense is: $2,812.50.
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Answer:
Paid -in Excess capital as on December 31, 2021 $124 million
Explanation:
The computation of the amount reported as a additional paid-in capital is shown below
For Jan 1, 8 million × $15 $120 million
For June 3, 2 million × $18 ($36 million)
For December 28, 2 million × $20 $40 million
Paid -in Excess capital as on December 31, 2021 $124 million
Answer:
The balance in the Paid-in Capital from Treasury Stock account at December 31, 2014 is $36,000
Explanation:
The computation of the balance in the treasury stock account is shown below:
= Number of shares sold × (Selling price of share - purchase price of share)
= 18,000 shares × ($13 per share - $11 per share)
= 18,000 shares × $2 per share
= $36,000
The other items which are mentioned like issued shares, authorized shares are irrelevant because we have to compute for the treasury stock, not for the common stock. So, these parts would be ignored in the computation part.
Answer: The answer is central bank
Explanation:
Budget deficit : This is when government total proposed expenditure for a period is more than the total estimated revenue. When this happens, government get the money to finance the deficit in the budget from the central bank or ask the central bank to print more currency or get aid and grant from foreign aid donors to finance the deficit.
Loan fund to the banking system: This is a function of central bank when they act as lenders of last resort to the commercial bank. If people begins to withdraw their money from commercial banks, the banks may be placed in such a position that they will not have enough cash to pay their customers. They will run to the central bank to borrow money or to rediscount bills and the central bank must not refuse to come to the aid of commercial banks in order to prevent banking crisis which may shake a country's economy.
Sells newly issued government bond : This is when central bank wants to reduce the volume of money in circulation, the central bank sells bond or securities in the open market .people buy with cheque drawn on their deposits in the commercial banks. The central bank then presents the cheque to the commercial bank and draw on their cash reserves by this the cash reserve of commercial banks is reduced and reduce the supply of money in the economy.
Create money out of thin air: This is the central bank function of issuing notes, it is the legal authority to issue notes. When new notes are to be put into circulation, this is done by the central bank .but the new notes are set into circulation through the commercial banks.
Control the money supply : This is the function of central bank to regulate the volume of money in circulation or to mop up excess liquidity in the economy by selling treasury bill through the open market to the members of the public .It collect money from the commercial banks this will reduce the cash reserves of commercial banks and reduce their loan given capacity.
Government bonds, the money supply : The central bank is the legal authority to sell government bonds in order to mop up the excess liquidity in the economy. When their is too much money in circulation, the central bank make use of monetary policy instruments such as the open market operation to reduce the supply of money in circulation.
