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Anika [276]
3 years ago
14

Given that the income of franchise restaurant managers is directly tied to profits and the income of the manager of the company

owned restaurant is paid a flat fee, we might expect profits to be Question 6 options: 1) none of the statements associated with this question are correct. 2) equal in both types of restaurants. 3) lower in company-owned restaurants. 4) higher in company-owned restaurants.
Business
1 answer:
katovenus [111]3 years ago
3 0

Answer:

3) lower in company-owned restaurants.

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A diverse team will almost always have _____ than a homogeneous team. more extensive external contacts lesser cognitive resource
AfilCa [17]

Answer: more extensive external contacts

Explanation:

Team diversity has to do with the differences that the members of a particular team have. Such differences can be due to religion, nationality, age etc. .

It should be noted that diverse team will almost always have more extensive external contacts than a homogeneous team.

6 0
3 years ago
The balance sheet of Cattleman's Steakhouse shows assets of $85,900 and liabilities of $13,500. The fair value of the assets is
cestrela7 [59]

Answer:

$7,120

Explanation:

Given that,

Assets = $85,900

Liabilities = $13,500

Fair value of assets = $90,500

Fair value of its liabilities = $13,500

Amount paid to acquire all of its assets and liabilities = $84,120

Net assets:

= Fair value of assets - Fair value of its liabilities

= $90,500 - $13,500

= $77,000

Goodwill = Purchase consideration - Net assets

               = $84,120 - $77,000

               = $7,120

8 0
3 years ago
Feeney Furniture prepared the following sales budget: Month Cash Sales Credit Sales March $19,000​ $11,000​ April $40,000​ $11,0
marusya05 [52]

Answer:

total cash collections in June = $101050

so correct option is A. $101,050

Explanation:

given data

month              cash sales                    credit sale

march                $19,000                        $11,000

April                   $40,000                       $11,000

May                    $43,000                       $35,000

June                   $59,000                       $50,000

to find out

total cash collections in June at Feeney Furniture

solution

we find here total cash collections in June that is express as

total cash collections in June = cash sale in June  + ( credit sale in June × 62% ) + ( credit sale in May × 30%) +  ( credit sale in April × 5%)   .............1

put here value we get

total cash collections in June = $59000  + ( $50000 × 62% ) + ( $35000 × 30%) +  ( $11000 × 5%)

total cash collections in June = $101050

so correct option is A. $101,050

8 0
3 years ago
Read 2 more answers
Oriole Company reports the following financial information before adjustments. - Dr. Cr. Accounts Receivable $130,100 Allowance
fgiga [73]

Answer:

(a) 4% of accounts receivable

  • Oriole Company estimates bad debts at (a) 4% of accounts receivable  

Dr Bad Debt Expense $ 35,001  

Cr Allowance for Uncollectible Accounts  $ 35,001

  • (b) 4% of accounts receivable but Allowance for Doubtful Accounts had a $1,490 debit balance.

Dr Bad Debt Expense $ 39,801  

Cr Allowance for Uncollectible Accounts  $ 39,801

Explanation:

Initial Balance  

Dr Accounts Receivable   $ 130,100

Cr Allowance for Uncollectible Accounts  $ 3,310

Sales Revenue (all on credit)  

Dr Accounts Receivable  $ 880,500  

Cr Sales  $ 880,500

Sales Returns and Allowances    

Dr Sales Returns and Allowances $ 52,830  

Cr Accounts Receivable   $ 52,830

Oriole Company estimates bad debts at (a) 4% of accounts receivable  

Dr Bad Debt Expense $ 35,001  

Cr Allowance for Uncollectible Accounts  $ 35,001

To register the adjustment of 4% of accounts receivables it's necessary considerate the values previously recorded in the account.

It means, CREDIT Balance $3,310 and to register the difference.

4% of accounts receivable but Allowance for Doubtful Accounts had a $1,490 debit balance.  

Dr Allowance for Uncollectible Accounts  $ 1,490

Dr Bad Debt Expense $ 39,801  

Cr Allowance for Uncollectible Accounts  $ 39,801

If the company applies the allowance method, it means that the account Allowance for Uncollectible Accounts must show as balance the % of accounts receivables as CREDIT.  

Because the company has a debit balance in that account it's necessary to register an entry that compensate the DEBIT value and reflect A CREDIT estimated as % of account receivable.  

FINAL Balance  

Dr Accounts Receivable  $ 957,770  

Cr Allowance for Uncollectible Accounts  $ 38,311

Bad accounts are those credits granted by the company and there is no possibility of being charged.

When customers buy products on credits but the company cannot collect the debt, then it's necessary to cancel the unpaid invoice as uncollectible."

One way is to directly cancel bad debts at the time it was decided that the credit is bad, the total amount reported as bad debt expenses negatively affect the income statement and the accounts receivable are reduced by the same amount, less assets

The other way is to determine a percentage of the total amount of accounts receivable as bad debts, there are many ways to analyze accounts receivable and calculate the value of bad debts.

When the company has the percentage of uncollectible accounts, the required journal entry is Bad Expenses (debit) with Reserve for Bad Accounts (credit)

At the time of cancellation, since the expenses were recognized before, we only use the Allowance for Uncollectible Accounts (Debit)  with accounts receivable (credit), with this we are recognizing the bad credit of the company.

7 0
3 years ago
Theory of production​
Helen [10]

Answer:

Theory of production, in economics, an effort to explain the principles by which a business firm decides how much of each commodity that it sells (its “outputs” or “products”) it will produce, and how much of each kind of labour, raw material, fixed capital good, etc., that it employs (its “inputs” or “factors of .

Explanation:

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3 0
3 years ago
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