Alpha Geek

(8)

$10/per page/Negotiable

About Alpha Geek

Levels Tought:
University

Expertise:
Accounting,Algebra See all
Accounting,Algebra,Architecture and Design,Art & Design,Biology,Business & Finance,Calculus,Chemistry,Communications,Computer Science,Environmental science,Essay writing,Programming,Social Science,Statistics Hide all
Teaching Since: Apr 2017
Last Sign in: 442 Weeks Ago, 1 Day Ago
Questions Answered: 9562
Tutorials Posted: 9559

Education

  • bachelor in business administration
    Polytechnic State University Sanluis
    Jan-2006 - Nov-2010

  • CPA
    Polytechnic State University
    Jan-2012 - Nov-2016

Experience

  • Professor
    Harvard Square Academy (HS2)
    Mar-2012 - Present

Category > Accounting Posted 14 May 2017 My Price 5.00

Pacific Crossburgers Inc. charges an initial franchise fee

 

Pacific Crossburgers 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. Instructions Prepare the entries to record the initial franchise fee on the books of the franchisor under the following assumptions. (Round to the nearest dollar.) (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.

 

 

 

 
 

Answers

Alpha Geek
(8)
Status NEW Posted 14 May 2017 04:05 PM My Price 5.00

-----------

Attachments

file 1494777933-Answer.docx preview (193 words )
P-----------aci-----------fic----------- Cr-----------oss-----------bur-----------ger-----------s I-----------nc.----------- ch-----------arg-----------es -----------an -----------ini-----------tia-----------l f-----------ran-----------chi-----------se -----------fee----------- of----------- $7-----------0,0-----------00.----------- Up-----------on -----------the----------- si-----------gni-----------ng -----------of -----------the----------- ag-----------ree-----------men-----------t, -----------a p-----------aym-----------ent----------- of----------- $2-----------8,0-----------00 -----------is -----------due-----------. T-----------her-----------eaf-----------ter-----------, t-----------hre-----------e a-----------nnu-----------al -----------pay-----------men-----------ts -----------of -----------$14-----------,00-----------0 a-----------re -----------req-----------uir-----------ed.----------- Th-----------e c-----------red-----------it -----------rat-----------ing----------- of----------- th-----------e f-----------ran-----------chi-----------see----------- is----------- su-----------ch -----------tha-----------t i-----------t w-----------oul-----------d h-----------ave----------- to----------- pa-----------y i-----------nte-----------res-----------t a-----------t 1-----------0% -----------to -----------bor-----------row----------- mo-----------ney-----------. I-----------nst-----------ruc-----------tio-----------ns -----------Pre-----------par-----------e t-----------he -----------ent-----------rie-----------s t-----------o r-----------eco-----------rd -----------the----------- in-----------iti-----------al -----------fra-----------nch-----------ise----------- fe-----------e o-----------n t-----------he -----------boo-----------ks -----------of -----------the----------- fr-----------anc-----------his-----------or -----------und-----------er -----------the----------- fo-----------llo-----------win-----------g a-----------ssu-----------mpt-----------ion-----------s.
Not Rated(0)