There are different kinds of businesses. In a franchise system. an individual or firm contracts with a parent company to set up a business or retail outlet.
- Franchising is simply known to be a type of contractual system. It is often used to commercialize products, services or technology.
There are five major types of franchises. They are: job franchise, product franchise, business format franchise, investment franchise and conversion franchise.
A franchise (or franchising) is simply known as a process of sharing products or services involving a franchisor, who establishes the trademark of the brand of a business system, and a franchisee, who is responsible for paying a royalty under the franchisor's name and system.
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Answer:
Explanation:
The journal entries are shown below:
a) April 1, 2012;
Dr Cash A/C. $290,000
Dr finance charge $10,000
Cr payable $300,000
($500,000 × 2% = $10,000)
b)
Dr Cash A/c $350,000
Cr Account receivable $350,000
c)
Dr payable $300,000
Dr interest expense $7,500
Cr Cash $307,500
(10% × $300,000 × 3/12 = $7,500)
Answer:
The correct answer is $3.12 and $888.42.
Explanation:
According to the scenario, the given data are as follows:
Beginning balance = $885.30
cash payment = $50
Face value of bond = $1,000
Interest rate = 6%
We can calculate the amortization amount by using following formula:
Amortization amount = Interest expense - cash payment
Where, Interest expense = Beginning balance × interest rate
= 885.30 x 6%
= $53.12
By putting the value, we get
Amortization amount = 53.12 - 50
= $3.12
And, Ending balance of bond = Beginning balance of bond + Amortization amount
= 855.30 + 3.12
= $888.42
Answer:
technology
Explanation:
because they have to be search
