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Franchise Accounting.
BLACKPINK CORPORATION, which sells specialized sandwiches, charges an initial franchise fee of P 900,000 to Mrs. Jeny Choi on January 1, 2020 for the right to operate as a franchisee of BLACKPINK CORPORATION. Of this amount P 180,000 is payable when the agreement is signed and the balance is payable in 4 equal installment payments. In return for the payment of initial franchise fee, the franchisor will assist the franchisee to locate the site, supervise the construction activity and provide bookkeeping services. The credit rating of the franchisee indicates that the money can be borrowed at 10%. The present value of an ordinary annuity factor is 3.16987.
Problem 1: How much is the franchise revenue if the down payment is non-refundable, the collectability of the note is reasonably assured and there is substantial performance of services?
Determine the breakeven point in units and dollars. Also, determine the number of units and dollars that need to be sold to make a target profit of $5,000 a month.
Justin also contributed $1,000 to his Roth IRA during the year. What is the maximum deduction Justin can take for an IRA contribution for this year?
Cool Globe Inc. entered into two transactions, as follows: 1. Purchased equipment paying $20,500 down and signed a noninterest-bearing note requiring the balance to be paid in four annual installments of $20,500 on the anniversary date of the contrac..
Manuka Sdn. Bhd. purchased a lorry from Speedy Automobile by issuing a 9-month, Which is the accrued expense adjusting entry?
Debt is 20% and Rate is 15%. Other data: Tax rate is 40%, Risk free rate is 8%, market premium is 5% and unlevered beta is 1. Calculate WACC ?
Suppose you are employed by MS Corporation. In year 1, you received nonqualified employee stock options (NQOs) to acquire 10,000 shares of MS’s stock at an exercise price of $40 share. What is the amount and character (ordinary or capital gain) of yo..
Prepare the income statement, statement of retained earnings, and balance sheet and Calculate the ratios: current ratio, quick ratio, debt ratio, accounts receivable turnover, and inventory turnover.
On May 1, Dawdle Company had a work-in-process inventory of 10,000 units. The units were 100% complete for material and 30% complete for conversion, with respective costs of $30,000 and $1,850. During the month, 150,000 units were completed and trans..
What does Settlement period for receivables and Payment period for payables show? What is Appraisal of working capital? Provide example
Prepare an income statement and a balance sheet for the toy business as at June 30.
During January, a company that uses, Prepare a schedule to show the cost of goods sold and ending inventory using the FIFO cost flow assumption.
Using the data in the attached spreadsheet perform the accounting required for the elimination of each independent intercompany transaction: Prepare the book calculations and Perform the required journal entries.
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