Which of the following statements about franchising is not true?

Ramsey Company typically sells subscriptions on an annual basis, and publishes six times a year. The magazine sells 60,000 subsc

Alexxandr [17]

Answer:

The correct answer is B

Explanation:

The journal entry to record the sale of the subscription is as:

Cash A/c.............................................................Dr $600,000

To Unearned Subscription Revenue A/c..........Cr $600,000

As company made a sale of the subscription, so cash is received from sale therefore any increase in asset is debited. So, the cash account is debited. And the unearned subscription revenue is credited because cash is received against subscription sale.

8 0

3 years ago

Raul is a financial analyst who oversees the daily financial expenditures for a major big box retailer. on a typical day, raul d

musickatia [10]

To enhance Raul’s well being at work, his manager should arrange Raul’s schedule in means of reducing the time of his work that will have enough time for him to balance home and work and in a way of maintaining his well being at work and his child at home.

7 0

3 years ago

Rick and Joe get together and start a mortgage brokerage business. They each contribute $25,000 of capital to the business. Afte

bezimeni [28]

Answer:

a.common stock.

Explanation:

The additional $10,000 of owners equity after listing on the stock market will be named as common stock. After listing company issues shares for capital investment in it. Common stock is the appropriate term used for every addition in the owners equity. So the correct option is a.common stock.

7 0

3 years ago

The difference between distributive negotiation strategies and integrative negotiation strategies is that (1) distributive strat

Karolina [17]

Answer:

C. The second statement is correct

Distributive strategies focus on dividing the pie and integrative strategies on expanding the pie.

Explanation:

Distributive negotiation is a type of negotiation that both parties agrees to sharing existing resources within themselves so that they can part ways and it's mostly a win-lose situation while the integrative negotiation is a type where both parties seek to further expand the existing resources be looking forward to a collaborative process, it's always a win-win situation for both parties.

5 0

3 years ago

June 1 Stockholders invested $21,800 cash in the business in exchange for common stock. 2 Purchased a used van for deliveries fo

True [87]

Answer:

June 1st

Cash 21,800 debit

Common Stock 21,800 credit

June 2nd

Van-automobile 14,200 debit

Cash 4,000 credit

Note payable 10,200 credit

June 3rd

Rent expense 400 debit

Cash 400 credit

June 5th

Accounts receivables 5,200 debit

Sales Revenue 5,200 credit

June 9th

Dividends 300 debit

Cash 300 credit

June 12th

Supplies 200 debit

Accounts Payable 200 credit

June 15th

Cash 1,400 debit

Accounts receivables 1,400

June 17th

Gasoline expense 200 debit

Accounts Payable 200 credit

June 20th

Cash 1,300 debit

Service Revenue 1,300 credit

June 23th

Note payable 600 debit

Cash 600 credit

June 26th

utilities expense 350 debit

cash 350 credit

June 29th

accounts payable 200 debit

cash 200 credit

June 30th

salaries expense 1,730 debit

cash 1,730 credit

Explanation:

Rules to perform journal entries:

credit = debit

also there should be at lease one account on debit and one in credit.

We must also remember that debits must be enter first.

Also, each acount must represent a single event or stuff. It cannot represent both stuff.

7 0

3 years ago