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Answer:
$2,200,000 gain
Explanation:
When the amount received from the disposal of an asset is lower than the carrying or net book value (NBV) of the asset, the company makes a loss on disposal otherwise, the company makes a gain on disposal.
The carrying amount of the asset is the difference between the asset's cost and accumulated depreciation as at the date of disposal.
Asset NBV = $2,000,000 - $1,200,000
= $800,000
Gain/(loss) on disposal = $3,000,000 - $800,000
= $2,200,000
Answer:
2016: $300 million; 40%; $60 million
2017: $450 million; 60%; $90 million
Explanation:
Total costs:
= Costs incurred in 2016 + Costs incurred in 2017
= $240 + $360
= $600
In 2016:
Percent of total excepted costs:
= Costs incurred in 2016 ÷ Total costs
= $240 ÷ $600
= 0.4 or 40%
Revenue recognized:
= Percent of total excepted cost × Contract price
= 0.4 × $750 million
= $300 million
Income = Revenue recognized - Costs incurred in 2016
= $300 million - $240 million
= $60 million
In 2017:
Percent of total excepted costs:
= Costs incurred in 2017 ÷ Total costs
= $360 ÷ $600
= 0.6 or 60%
Revenue recognized:
= Percent of total excepted cost × Contract price
= 0.6 × $750 million
= $450 million
Income = Revenue recognized - Costs incurred in 2017
= $450 million - $360 million
= $90 million
Answer: True
Explanation:
Something that has caught the attention of many has been how electronic money has been used in countries like Kenya and Somalia. A study has confirmed that the use of mobile money has reduced poverty in places like Kenya. Mobile money is defined as money where people can make financial transactions through their phones.
This type of activity has greatly influenced poverty reduction and the high rates that occurred when people had to send money over certain distances. In countries like Somalia, there are no longer any traces of physical money, everything is virtual. In this way, the country has achieved economic stability for years. People increasingly consume through their mobile phones, making in an easier way all kind of payments.
You have a franchised planet fitness gym. you began the business by paying your initial franchise fees and now you pay royalties on a regular basis. this typical fee structure for a franchise is an Example Of an advantage For An Franchisor.
In the aforementioned scenario, we first pay the initial franchise fees and then we are required to pay royalties on a regular basis. As a result, it is obvious that the franchisor benefits financially and that overall growth also benefits because the franchisor does not assume any risk in the Planet Fitness Gym; instead, they merely provide their franchises and receive regular basis income.
Additionally, they lower market and gym startup costs, among other things. They also gain from the fact that opening a new gym raises the value of their brand in the marketplace, which helps the franchisor long-term and accelerates their overall growth.
A franchise is a kind of license that gives a franchisee access to a franchisor's confidential company information, operational procedures, and trade names, enabling the franchisee to conduct business under the franchisor's brand.
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