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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?
Preble Company manufactures one product. Its variable manufacturing overhead is applied to production based on direct labor-hours and its standard cost card per unit is as follows: What raw materials cost would be included in the company’s flexible b..
Using an annual effective interest rate of 1%, calculate the present value at the beginning of the ninth year of all remaining payments.
Identify potential opportunities and challenges arising from the visit, with a rationale for each, plus a clear indication of how these could be managed.
Prepare the September 9 entry to establish the fund and (2) the September30 entry to both reimburse the fund and reduce it to $300.
A company has 360,000 shares authorized, 200,000 shares issued, and 100,000 shares outstanding. The par value of its stock is $1 per share. The company does a 2-for-1 stock split. What is the balance in its Common Stock account after the split?
Find the amount of ?nancing needed by Sabaq Corporation. Sabaq Corporation wants to determine the additional funds needed for its forecasted sales
Describe the impact of recording the declaring of a stock dividend on 1) the balance sheet, 2) the income statement, 3) the statement of owners
Clay Corporation was organized by five individuals on January 1, 2014. At the end of January2014, Using the information above, prepare an Income Statement for January 2014 and a BalanceSheet as of January 31, 2014
You performed a trend analysis Apple Inc. this week please assess the financial statements for Apple, using the ratio tools you have acquired in the course.
The federal gift tax return (Form 709) is generally due. $1,500,000 will pass outright from Grandfather to Grandfather’s grandson, Paul, by virtue of being named as the beneficiary of a bank account in Grandfather's name. Grandfather’s son, John, who..
Fiore reported net income of $400 in 2009 and paid dividends of $100. Assume the initial value method is applied. How much will Kaye’s income increase or decrease as a result of Fiore’s operations?
Prepare journal entries for all of the above transactions. 30 The fund was reimbursed so as to include petty cash items in the financial statements
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