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Cloud [144]
3 years ago
13

TopChop sells hairstyling franchises. TopChop receives $50,000 from a new franchisee for providing initial training, equipment,

and furnishings that have a stand-alone selling price of $50,000. TopChop also receives $30,000 per year for use of the TopChop name and for ongoing consulting services (starting on the date the franchise is purchased). Carlos became a TopChop franchisee on July 1, 2021, and on August 1, 2021, had completed training and was open for business. How much revenue in 2021 will TopChop recognize for its arrangement with Carlos?
Business
1 answer:
Brut [27]3 years ago
3 0

Answer:

$65,000

Explanation:

Under accrual method of accounting, the revenue is recognized when the same is accrued to the concern.

The revenue of $30,000 will be recognized from the starting on the date the franchise is purchased.

Hence, $30,000 will be recognized from July 1, 2021 upto to Dec 31, 2021 i.e. for half of the year.

Amount of revenue recognized by Top Chop in 2021 for its arrangement with Carlos:

= Amount receives from initial training + Amount receives from using name of the company

= $50,000 + ($30,000 ÷ 2)

= $65,000

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Accountants include ________ costs as part of a firm's costs, while economists include ________ costs. Group of answer choices i
Goshia [24]

Answer:

Explicit, explicit and implicit

Explanation:

The accounting cost is the cost that generally includes the payment related to the wages, rent, price of the products etc

While on the other hand, the economic cost is the cost that involves both type of cost i.e. explicit and implicit. The implicit cost is generally the opportunity cost

This is the answer but the same is not provided in the given options

8 0
3 years ago
The table shows the taxable income range and marginal tax rates for a single taxpayer in Oceania. There are no exemptions or ded
zheka24 [161]
1.C.​$15,345
2.c.23.61%
3.c. United States
4.false
5.B. Social Security
6.d. spending that must be authorized by Congress each year
7.d. raising payroll Texas or raising benefits
8.D.States increase taxes to fund education.
9.A.the money supply and interest rates that automatically increase or decrease along with the business cycle.
10.
8 0
4 years ago
Antonio and Dina are debating the use of student discounts by local theaters near school. Antonio argues, "When theaters offer d
Ivanshal [37]

Answer:

The correct answer is letter "A": Dina.

Explanation:

The fact that local theaters near school offer a discount to students with valid identification is not a form of discrimination. As stated by Dina, there is no age restriction, for instance, and it is presumed, there is no other such religious preference, sexual orientation, race, and so forth. Economists are more likely to agree with Dina since what the local theaters are simply trying to do is to get the more clientele possible out of diverse sources. In this case, the source is the student status.

7 0
4 years ago
Because other firms are willing to pay to advertise with them, suppliers of nonrival private goods often modify their products t
OLEGan [10]

Answer:

b. Public Goods

Explanation:

Public Goods -

It is the type of goods and services , which each and every person can use , without any kind of restriction , is known as public goods .

These type of goods are considered to be non - rivalrous , i.e. ,  these goods do not reduce , irrespective of their usage .

And ,

are non - excludable , i.e. , these goods are open for all and some individual or group van not hold on to it .

The example of public goods are - public parks , sewer system , law enforcement etc .

7 0
4 years ago
Flyer Company sells a product in a competitive marketplace. Market analysis indicates that its product would probably sell at $4
Marrrta [24]

Answer:

Option (B) is correct.

Explanation:

Given that,

Selling price per unit = $48

Desired profit margin on sales = 12.5%

Flyer’s current full cost for the product = $44 per unit

Profit = Selling price × profit margin

         = $48 × 12.5%

         = $6

Target cost of unit = Selling price - Profit

                               = $48 - $6

                               = $42

8 0
3 years ago
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