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On May 31, 2020, Win grants Bright the right to operate as a franchisee of "2gether Spa" for a nonrefundable upfront fee of P2,400,000 and 3% royalty fee based on Bright's annual sales. Win in return will (1) assist Bright in locating the site, (2) provide supplies and equipment, and (3) allow Bright to use the tradename for 10 years. Bright's income for the year totaled P1,000,000. Win has no performance obligation (PO) remaining as of year-end and was able to recognize income of P28,000 from PO#3. Win determined that each PO is separate and distinct from one another and follows PFRS 15, accordingly.
Problem 1: How much is the total revenue recognized by Win for the year ended 2020?
What was the amount of net cash provided by operating activities for the year ended September 27, 2014? For the year ended September 28, 2013?
On December 31, 2017, Company B's ordinary shares were quoted at Php 10.30, What the initial measurement of the investment in Company ordinary shares
Loren satina is the sole owner of clear view park a public camping ground near the lake mead national recreation area. Loren compiled the following financial information as of December 31, 2017. Determine Loren Satina's net income from clear view par..
The bonds which mature in 10 years were sold at the current market interest rate is 7.0%. The selling price for 65 units of bonds would most probably be nearest
Annual end-of-year deposits over the next 10 years. If Xiao Li can earn 5 percent on her investments, how much must she deposit at the end of each year
On June 1, 2004, XYZ Company paid $360,000 to purchase land, building, and equipment. The market value of these assets on that date were: land $90,000; building $260,000; equipment $50,000. The equipment will be depreciated using the straight-line me..
During January, pay day falls on Friday 28th. For the month end accounts for January, the amount to be accrued for wages would be
Using the following data, prepare a multistep income statement for Morrison Company for the month ended February 28, 2013.
Idwell Corporation issued a 8 percent stock dividend on 25,500 shares of its $12 par common stock. At the time of the dividend, the market value of the stock was $26 per share. Compute the amount of the stock dividend. Show the effects of the stock d..
What does the Consolidated Statements of Earnings-the income statement-tell you about the company? Why is this statement important? What business decisions could be made using the income statement?
The variable cost per case, including both manufacturing and selling costs, is $105. What is the total contribution margin for next quarter?
Is it added, subtracted, or ignored? Explain the rationale behind this treatment.
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