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1. Franchise Entries Pacific Cross burgers Inc. charges an initial franchise fee of $70,000. Upon the signing of the agreement, a payment of $28,000 is due. Thereafter, three annual payments of $14,000 are required. The credit rating of the franchisee is such that it would have to pay interest at 10% to borrow money. Prepare the entries to record the initial franchise fee on the books of the franchisor under the following assumptions.
(a) The down payment is not refundable, no future services are required by the franchisor, and collection of the note is reasonably assured.
(b) The franchisor has substantial services to perform, the down payment is refundable, and the collection of the note is very uncertain.
(c) The down payment is not refundable, collection of the note is reasonably certain, the franchisor has yet to perform a substantial amount of services, and the down payment represents a fair measure of the services already performed.
Find a journal article online about just-in-time inventory systems. In the subject line of your post, include the title of the article that you read.
miller company manufacturers a product for which materials are added at the beginning of the manufacturing process. a
on december 10 the board of directors of win corporation declares the following quarterly cash dividends. the date of
Journalize the following transactions in the accounts of Linden Company, a restaurant supply company that uses the allowance method of accounting for uncollectible receivables:
Recorded depreciation on equipment it owned Paid salaries to its employees. Made a year end accrual for interest owed the bank on money it had borrowed.
Consider both the company and employee perspectives. Also discuss whether you believe the use of this device could be an internal control for the company.
You are training an intern and must explain to her a tax preparers professional responsibilities - Prepare a response to discuss your thoughts on the implications of e-filing tax documents.
the boring corporation is currently valued at 1151 million but management wants to completely pay off its perpetual
accounting for construction contractconstruct pty ltd uses the percentage of completion method of accounting for
Explain how multinational companies benefits from the convergence/ harmonization of accounting standards.
Productivity. Many times trade-offs are necessary to increase productivity. What are important trades-offs involving the inputs to productivity? Your initial post should include real life situations and be at least 200-250 words.
The following situations involve the provision of nonaudit services indicate whether providing the service of AICPA rule or SEC rules including sarbanes Oxley requirements of independence Explain your as answer neccessary
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