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faltersainse [42]
2 years ago
9

Flapper Jack's Pancake Restaurants Inc. sells franchises for an initial fee of $36,000 plus operating fees of $500 per month. Th

e initial fee covers site selection, training, computer and accounting software, and on-site consulting and troubleshooting, as needed, over the first five years. On March 15, 2020, Tim Cruise signed a franchise contract, paying the standard $6,000 down with the balance due over five years with interest. Assuming that the initial services to be performed by Flapper Jack's subsequent to the signing are substantial and that collection of the receivable is reasonably assured, the journal entry required at signing would include a credit to
Business
1 answer:
Len [333]2 years ago
3 0

Answer:

The journal entry will involve the credit to Unearned franchise fee revenue which amounts to $36,000

Explanation:

The journal entry which is to be recorded for signing the substantial and the collection of note receivable is as:

March 15, 2020

Cash A/c......................................Dr    $36,000

   Unearned franchise fee revenue A/c......Cr   $36,000

As cash is received and that amounts to $6,000, the remaining balance amount of $30,000 being debited to Note receivable will be recognized during the year as and when received. And the Unearned franchise fee revenue for $36,000 is credited because signing date and the performance is yet pending.

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_________________ involves planning, implementing, and controlling the physical flow of goods, services, and related information
gogolik [260]

Answer:

Logistics

Explanation:

Logistics is the process of managing the movement of merchandise or resources from their point of origin to the intended consumer.  Logistics in an organization is the management of mobility and storage activities undertaken by the company. Logistics management will involve the identification of distributors and suppliers of the company's products.

Poor logistics will hurt business performance. If the company's products are not available for consumers to buy,  low sales will be realized. An inefficient logistics system will make company products expensive.  As a result,  the company's goods becomes uncompetitive in the market.

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2 years ago
For the past two years, Swen Johannsen, owner/general manager of Swen's Fine Duds, a local men's clothing store, has fought to s
Viefleur [7K]

Answer:

Swen is using product/service repositioning strategy.

Explanation:

Product Repositioning simply refers to the art of altering the target markets perception of one's product and or services.

Swen is still in the clothing business. He has only changed the way he delivers it to the target consumers.

Of course, this sometimes calls for a change in product mix (which refers to altering the type of products being offered). However, the central idea of the strategy still holds as customers now see the business differently.

This type of strategy is easier to pull off for start-ups, or unpopular businesses trying to make a comeback. Where the business is a well-established brand, it can prove extremely difficult and may be costly.

Cheers.

4 0
2 years ago
Tamara and her children live in a subdivision with a tennis court and swimming pool. Her children are thrilled to be able to use
Semenov [28]

Answer:

The correct answer is B. The tennis court and swimming pool are owned in common by all the property owners. It is a Planned Unit Development.

Explanation:

The planned unit developtment is a type of possession where individuals actually own the building or Unit in which they live but there are common areas that are jointly owned with the other members of the development or association. Unlike a Condominium, where individuals actually own the airspace of their unit, but common buildings and areas are jointly owned with others in a development or association.

6 0
2 years ago
Southwest Components recently switched to activity-based costing from the department allocation method. The Fabrication Departme
LiRa [457]

Answer:

Raw materials

<u>Debit           Credit</u>

               299,000

Wages Payable

<u>Debit           Credit</u>

               146,000

Factory Overhead

<u>Debit           Credit</u>

                708,200

WIP inventory

<u>Debit           Credit</u>

299,000

 146,000

<u> 708,200</u>

1,153,200

Explanation:

3,500pounds x $20 overhead per pound  = 70,000

710 inspections x $220 per inspection  =     156,200

50 setups x $2,500 per setup  =                   125,000

17,000 machine hours x $21  =                  <u>     357,000</u>

Total applied overhead:                                 708,200

The raw material will be credited as we decrease our inventory

the Direct labor will be wages payable

the factory overhead will be credited to represent the allcoated amount

4 0
2 years ago
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