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Question - Dollibee Corporation entered into a franchise agreement with McJonald Company on January 1, 2018 to sell McJonald products for 10 years. The initial franchise fee, which is P20,000,000, was satisfied by Dollibee by paying P4,000,000 as down payment, and by issuing a 5-year P16,000,000, 8%, note. The agreement states that McJonald shall provide the necessary initial services, and has already substantially performed all required initial services. The agreement further states that Dollibee shall pay McJonald 5% of its annual sales every December 31 as a continuing franchise fee. The 2018 sales of Dollibee total to P10,000,000; and the 2019 sales total to P14,300,000. How much expense related to the franchise (excluding the interest expense on the note payable) shall be recognized in 2019?
AAA firm has a portfolio worth $200,000. Four stocks are in the portfolio with information given. Calculate the beta of this portfolio
Determine the annual interest rate on the debt contracts. An installment loan for $2,000 that has monthly payments of $66 for the 36 months
How does the opportunity cost of a government purchase vary depending on whether the market for the purchased good is perfectly competitive or monopolistic?
Sharp Company will acquire 90 percent of Moore Company in a business combination. The total consideration has been agreed on, but the nature of Sharp's payment has not. Explain how the amount of goodwill is determined. From a theoretical standpoint, ..
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Subconsciously adhered to a "Code of Practice". That code would have been a dress code. What does your company expect of you in regards to a dress code?
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Sean is admitted to the calender year XYZ Partnership on December 1 of the current year in return for his services managing the partnership’s business during the year. The partnership reports ordinary income of $100,000 for the current year without c..
To assess the criteria and procedures involved in accounting for leases, changes, and error analysis in examining the practical implications of these concepts. What is service cost, and what is the basis of its measurement?
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How do you create a depreciation schedule using each of the three methods: Straight line, Units of Production and Double Declining Balance?
Explain the meaning of the terms debit and credit (in context of double entry bookkeeping) and explain how these are used to keep the accounting equation
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