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k0ka [10]
3 years ago
14

On January 1, 2020, Franchisee Inc. enters into a contract with Italian Fine Dining Inc. for the right (beginning immediately) t

o operate an Italian Fine Dining restaurant and receive on-going consulting services for a four-year period. The upfront fee of $100,000 also includes specialized equipment for $12,000. The standalone selling price of the franchise services and specialized equipment are $88,000 and $12,000, respectively. The equipment (with a cost of $9,000) was transferred to the franchisee on March 1, 2020. Determine the amount of revenue to recognize for Italian Fine Dining Inc. on December 31, 2020. Group of answer choices
Business
1 answer:
o-na [289]3 years ago
4 0

Answer: $22,000

Explanation:

The total revenue to be recognized by Italian Fine Dinning Inc. is the standalone selling price for the franchise services which is $88,000.

As this contract is for a four year period, Italian Fine Dinning Inc will have to recognize the above revenue over a period of 4 years.

Revenue in December 2020 will therefore:

= 88,000 / 4

= $22,000

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Your client, Vinces Veggies, wants to increase downloads of their popular recipe printouts. You suggest they create ad groups ba
GrogVix [38]

Answer:

Default bid amount  and keyword list.

Explanation:

Veggies' keyword list should include all the words and phrases that describe his recipes and himself (or his business). Keywords are used by Google to decide where an ad will appear and to whom should they show them to.

Your ad's default bids will apply to all the keywords (included in your previous list) that don't have individual bids. This bid amount is how much you will pay per click of your google ad.

6 0
3 years ago
The following information is available for Montrose Company at December 31: Cash in bank account $ 8,540 Petty cash $ 250 Short-
ANEK [815]

Answer:

Cash $10,430 ; Cash equivalents $20,400

Explanation.

Cash consist of all currencies in hand or any convertible asset which can be converted to cash immediately.

It is to be noted that the assets with high liquidity will be included in cash and cash equivalent balance. They can quickly be converted to cash and would normally have 90 or lesser days to mature.

Solution.

$

Cash in bank. 8,540

Petty cash. 250

Check from customer. 1,350

Money order. 290

Cash. 10,430

The check has a very short maturity period since it will clear within 3-4 working days.

Money order can be cashed immediately .

Therefore;

Cash value is $10,430

For cash equivalent,

Cash equivalent = Money market fund balance + Treasury bills maturing in 60days

Cash equivalents = $10,400 + $10,000

=$20,400.

The amounts considered as cash and cash equivalents as of 31 December are ;

Cash $10,430 , $20,400 respectively.

8 0
3 years ago
During the first two years, ABC drove the company truck 15,000 and 22,000 miles, respectively, to deliver merchandise to its cus
Andrej [43]

Answer:

11,000

Explanation:

7 0
2 years ago
Fixed overhead​ costs: A. never have any unused capacity B. should be unitized for planning purposes C. are unaffected by the de
d1i1m1o1n [39]

Answer:

C. are unaffected by the degree of operating efficiency in a given budget period.

Explanation:

Fixed over head costs or indirect costs are cost that do not vary with the level of out put. They are essential cost required to manage a business.

These costs are the same months by Months and are needed for the smooth running of the business. They are also unaffected by the degree of operating efficiency in a given budget period.

Examples of fixed overhead are rents, salaries, depreciation , insurance and taxes. It should however be noted that if there is an increase in sales compared to the budgeted sales of the company, there could be an increase in fixed overhead cost due to additional employees and administrative staff.

4 0
3 years ago
2. Which of the following is most likely to raise a significant ethical issue? (select one).
zhannawk [14.2K]

Answer:

A Business School student looking at changes in structures of Small and Medium Sized Enterprises (SMEs) using publicly available information

Explanation:

5 0
2 years ago
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