User Account

All Pages

Prepare the journal entry required by frozen delight

Assignment Help Accounting Basics
Reference no: EM132104727

Question - Frozen Delight, Inc. charges an initial franchise fee of $87,000 for the right to operate as a franchisee of Frozen Delight. Of this amount, $22,000 is collected immediately. The remainder is collected in 4 equal annual installments of $16,250 each. These installments have a present value of $33,328. There is reasonable expectation that the down payment may be refunded and substantial future services be performed by Frozen Delight, Inc.

Prepare the journal entry required by Frozen Delight to record the franchise fee. Please give explanation.

Reference no: EM132104727

Questions Cloud

Stage-gate model and development funnel approach : The essential difference between the stage-gate model and the development funnel approach to coming up with new products/services is that
How do the two companies compete in their industry : Operations Management 3020: Describe five competitive priorities of each? Describe five, what you believe, are the core competencies of each?
How do the forces acting between the truck and car : A large truck collides head-on with a small car. The car is severely damaged as a result of the collision. According to Newton's third law.
Classical materials management system : Identify and discuss main difference between classical materials management system and lean materials management system
Prepare the journal entry required by frozen delight : The remainder is collected in 4 equal annual installments of $16,250 each. Prepare the journal entry required by Frozen Delight to record the franchise fee
What is managing employee attitudes and behaviors : What is Managing Employee Attitudes and Behaviors explain with below topics
What is the time for given amount of liquid helium : The latent heat of vaporization of liquid nitrogen is about 200 kJ/kg. Suppose you have 6 kg of liquid nitrogen boiling at 77 K. If you supply heat.
Economic analysis of phenomenon in the market : Crude oil is an energy source that is integral to production processes across the economy. However, over the last two decades, crude oil prices
Determine the acquisition cost of the new building : During 2014, Mercator Company borrowed $86,000 from a local bank. Determine the acquisition cost of the new building

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd