Answer:
A con of buying a franchise is limited business control and creativity.
Explanation:
A franchise is an authority by a company or government to an individual or groups of people to enable them to conduct specified business activities. It is a kind of license to utilize and have access to specific knowledge about a company or organization. The entity that can purchase the franchise at a certain cost depending on the value of the franchise, in return he/she gets a license to use the franchise within the threshold of the licensing agreement.
Purchasing a franchise has it's advantages and disadvantages.One major advantage is; since buying a franchise involves buying the right to use a company's name, this is beneficial since there is a ready-made business operation. On the other hand, franchise has also a disadvantage. The major disadvantage of buying a franchise is that there is no business control since one has limited creativity with the product. The franchise always has a certain in built brand, limiting the ability of the person buying the franchise to be creative with adding or taking from the franchise.
Answer:
mixed cost
Explanation:
Southern Food Service pays their employees on both a fixed and variable manner:
- managers are paid on a monthly fixed way ($4,200 per month) ⇒ fixed cost
- the rest of the employees are paid on an hourly basis, which obviously varies depending on the amount of hours each person works ⇒ variable cost
Answer:
Journal Entries
1) Debit Salaries Expense $6,667 Credit Bank $6,667
2) Debit Fuel and Maintenance expense $600, Credit Bank $600
3) Debit Depreciation Expense $amount Credit Accumulated depreciation $amount
4) Debit Insurance Expense $amount Credit Bank $amount
5) Debit Benefit Expense $amount Credit Accrued Benefit Expense $amount
6) Debit Accounts Receivable ( total of all trips) $amount Credit Service Revenue $amount
Explanation:
The Question is incomplete but i will do the typical journal entries to the transactions without figures.
1) The salaries are for one month and in brackets there is a $80,000*1/12 calculation meaning the $80,000 is for the year, now if it was already recorded then we debit salaries payable $6,667 credit bank $6,667
4) Insurance expense is debited if it is paid as it is incurred but if it has an Prepaid insurance account then we credit the Prepaid insurance account instead of Bank.
Answer:
Items reported in the balance sheet are:
3. a, c, e, f, and h
Explanation:
a) Data and Selection:
a. Cash
b. Sales
c. Long-term debt
d. Wage expense
e. Wages payable
f. Retained earnings
g. Net income
h. Inventory
i. Cost of goods sold
a. Cash
c. Long-term debt
e. Wages payable
f. Retained earnings
h. Inventory
b) Items reported in the balance sheet are items that are assets, liabilities, or equities. These items are permanent items, which have their balances taken to the next accounting period. Non balance sheet items are reported in the income statement. They are closing or temporary items that do not have balances taken to the next period.
