User Account

All Pages

What royalty revenues is

Assignment Help Financial Accounting
Reference no: EM132994571

Fanny Company's trademark was licensed to Jean Company for royalties of 40% of sales of the trademarked items. Royalties are payable semi-annually on March 15 for sales in July-December of the prior year, and on September 15 for sales in January-June of the same year.

Fanny Company received the following royalties from Jean:

2021 - March 15, P62,000; September 15, P45,000;
2022- March 15, P70,000; September 15, P48,000.

Estimated sales of trademarked items for July-December 2022 is P225,000

Problem 1: Under cash basis, royalty revenues for 2022 is

Reference no: EM132994571

Questions Cloud

What the carrying amount of the investment to aruna ltd is : Adina Ltd prepares consolidated financial statements, For year ended 30 June 2021, the carrying amount of the investment in associate relating to Aruna Ltd is
Explain the tool-framework-method : Explain the tool, framework, or method and how organizations have used it to have a positive impact on people, places, or the planet.
Explin tata motors-exporting : The closing case explores the international expansion of Tata Motors. The Indian multinational exports cars and other vehicles worldwide under its Tata Motor Ca
Which of the forms part of the entries necessary to record : Which of the forms part of the entries necessary to record the elimination of the gain/loss on this transaction on consideration?
What royalty revenues is : Under cash basis, royalty revenues for 2022 is? Fanny Company's trademark was licensed to Jean Company for royalties of 40% of sales of the trademarked items.
Discuss potential next steps in visual presentation : Discuss potential next steps in visual presentation?
What is the underlying problem in college admissions : What is the underlying problem in college admissions scandal from the perspective of the federal government
How much cash was paid for inventory purchases : How much cash was paid for inventory purchases? The data are from a comparison of the balance sheets of Shaun Company as of December 31, 2020.
Benefit of training employees : Identify an option that is NOT a benefit of training employees to the organisation.

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

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