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Question - Pasta Inn charges an initial fee of $2,450,000 for a franchise, with $490,000 paid when the agreement is signed and the balance in four annual payments. The present value of the annual payments, discounted at 10%, is $1,660,000. The franchisee has the right to purchase $90,000 of kitchen equipment and supplies for $75,000. An additional part of the initial fee is for advertising to be provided by Pasta Inn during the next five years. The value of the advertising is $1,000 a month. Collectibility of the payments is reasonably assured and Pasta Inn has performed all the initial services required by the contract. Prepare the entry to record the initial franchise fee.
Prepare a budgetary comparison schedule for the city ended June 30, 2012 assuming the fund balance of the General Fund (Budgetary Basis) was $598,000 on July 1
Sales are budgeted at $320,000 for November, $340,000 for December, Prepare a Schedule of Expected Cash Collections for November and December
Explain what circumstances would call for Higley to compute its deferred tax liability at the end of 2010 by multiplying the cumulative temporary difference by: (a) 45%. (b) 40%. (c) 34%.
Lance Company has a unit selling price of $250, variable cost per unit of $160, and fixed costs of $135,000. Compute the break-even point in units using (a) the mathematical equation and (b) contribution margin per unit.
On December 31 2005 Company sold 4,000 treasury shares at 12 per share. What is the total stockholder equity at December 31, 2005
A vacant lot acquired for $115,000 is sold for $298,000 in cash. What is the effect of the sale on the total amount of the seller's (1) assets.
the firm has 15 million in retained earnings. after a capital structure with 15 million in retained earnings is reached
San Pedro has an agreement with its bank to maintain a cash balance of $10,000. What amount, if any, must the company borrow during March
The company's balance in retained earnings is $ 75,000. Prepare the stockholders' equity section of the company's balance sheet
Post the journal entries to T-accounts for all of the inventories, Cost of Goods Sold, the Manufacturing Overhead Control Account, and the Manufacturing.
Net sales total $ 803,000 Beginning and ending accounts receivable are $ 80,000 and $ 74,000, respectively. Calculate days' sales in receivables
Riverbed Co. is building a new hockey arena at a cost of $2,600,000. Make the journal entry to record the issuance of the bonds on January 1, 2016
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